{"data":{"id":"us-md/md.-code-corporations-and-associations-3-602","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 3–602","heading":"","body":"(a) Unless an exemption under § 3-603(c), (d), or (e) of this subtitle applies, a corporation may not engage in any business combination with any interested stockholder or any affiliate of the interested stockholder for a period of 5 years following the most recent date on which the interested stockholder became an interested stockholder.\n(b) Unless an exemption under § 3-603 of this subtitle applies, in addition to any vote otherwise required by law or the charter of the corporation, a business combination that is not prohibited by subsection (a) of this section shall be recommended by the board of directors and approved by the affirmative vote of at least:\n(1) 80 percent of the votes entitled to be cast by outstanding shares of voting stock of the corporation, voting together as a single voting group; and\n(2) Two-thirds of the votes entitled to be cast by holders of voting stock other than voting stock held by the interested stockholder who will (or whose affiliate will) be a party to the business combination or by an affiliate or associate of the interested stockholder, voting together as a single voting group.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=3-602","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"e8338387285b359dd0f873bf9d2327d47e980e95bd344f1951b23310b9e29c58","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-3-601","next":"us-md/md.-code-corporations-and-associations-3-603"},"notice":"GroundRules: Original legal text. Not legal advice."}