§ 5-111
58 words·~1 min read·
/md/corporations-and-associations/5-111·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–111.
(a)A stockholder of a professional corporation may transfer or pledge stock, fractional stock, and rights or options to purchase stock of the corporation only to a qualified person.
(b)A transfer of stock made in violation of subsection
(a)of this section, except a transfer made by operation of law or by court judgment, is void.