If the charter of a corporation registered as an investment company under the Investment Company Act of 1940 creates one or more classes or series of stock, and if separate and distinct records are maintained for the class or series and the assets associated with the class or series are held and accounted for separately from the other assets of the corporation, or assets associated with any other class or series:
(1) The debts, liabilities, obligations, and expenses incurred, contracted for, or otherwise existing with respect to a particular class or series are enforceable against the assets associated with that class or series only, and not against the assets of the corporation generally or any other class or series of stock; and
(2) The debts, liabilities, obligations, and expenses incurred, contracted for, or otherwise existing with respect to the corporation generally or associated with any other class or series are not enforceable against the assets associated with that class or series.
Structure Maryland Statutes
Title 2 - Corporations in General -- Formation, Organization, and Operation
Subtitle 2 - Issuance of Securities
Section 2-201 - Power to Issue Stock and Convertible Securities; Effect of Authorization
Section 2-202 - Subscription for Stock
Section 2-203 - Price and Consideration for Stock
Section 2-204 - Requisites to Issuance
Section 2-205 - Preemptive Rights
Section 2-206 - Payment for Stock and Convertible Securities
Section 2-208 - Classification or Reclassification of Unissued Stock by Board
Section 2-210 - Issuance of Stock Certificate
Section 2-211 - Contents of Stock Certificate
Section 2-212 - Signature and Seal on Certificates for Stock and Other Securities
Section 2-213 - Lost Stock Certificate
Section 2-214 - Fractional Shares