{"data":{"id":"us-md/md.-code-corporations-and-associations-4-502","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 4–502","heading":"","body":"A close corporation may not have outstanding any:\n(1) Securities which are convertible into its stock;\n(2) Voting securities other than stock; or\n(3) Options, warrants, or other rights to subscribe for or purchase any of its stock, unless they are nontransferable.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=4-502","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"ae1c784c32c3d1f60aa34fe2d1362dfbd4350e2d20603d3030213fd746da2131","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-4-501","next":"us-md/md.-code-corporations-and-associations-4-503"},"notice":"GroundRules: Original legal text. Not legal advice."}