{"data":{"id":"us-md/md.-code-corporations-and-associations-3-203","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 3–203","heading":"","body":"(a) A stockholder of a corporation who desires to receive payment of the fair value of the stockholder’s stock under this subtitle:\n(1) Shall file with the corporation a written objection to the proposed transaction:\n(i) With respect to a merger under § 3–106 or § 3–106.1 of this title, within 30 days after notice is given or waived under § 3–106 or § 3–106.1 of this title; or\n(ii) With respect to any other transaction, at or before the stockholders’ meeting at which the transaction will be considered or, in the case of action taken under § 2–505(b) of this article, within 10 days after the corporation gives the notice required by § 2–505(b) of this article;\n(2) May not vote in favor of the transaction; and\n(3) Shall make a written demand on the successor for payment for the stockholder’s stock, stating the number and class of shares for which the stockholder demands payment:\n(i) Within 20 days after the Department accepts the articles for record; or\n(ii) Within 20 days after consummation of the transfer or transaction with respect to:\n1. A transfer of assets in a manner requiring stockholder approval under § 3–105 of this title; or\n2. A transaction that is governed by § 3–603(b) of this title or exempted by § 3–603(b) of this title, for which no articles are required to be filed with the Department.\n(b) A stockholder who fails to comply with this section is bound by the terms of the consolidation, merger, share exchange, transfer of assets, or charter amendment.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=3-203","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"092b75cc42fba327038cd4cfeb360431a4cad27b514d5b84d6f28388d049cbdd","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-3-202","next":"us-md/md.-code-corporations-and-associations-3-204"},"notice":"GroundRules: Original legal text. Not legal advice."}