§ 3-905
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/md/corporations-and-associations/3-905·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§3–905.
(a)In a conversion of an other entity to a Maryland corporation, the stock, membership interests, partnership interests, beneficial interests, or other ownership interests of the other entity may be exchanged for or converted into any one or more of the following:
(1)Stock of the Maryland corporation or stock, evidence of indebtedness, membership interests, partnership interests, beneficial interests, or other ownership interests of any other corporation or other entity, whether or not party to the conversion;
(2)Other tangible or intangible property;
(3)Money; and
(4)Any other consideration.
(b)In a conversion of a Maryland corporation to an other entity, stock of the Maryland corporation may be exchanged for or converted into any one or more of the following:
(1)Stock, evidence of indebtedness, membership interests, partnership interests, beneficial interests, or other ownership interests of the other entity to which the Maryland corporation is converted or of any other corporation or other entity, whether or not party to the conversion;
(2)Other tangible or intangible property;
(3)Money; and
(4)Any other consideration.