(a) (1) In an appraisal proceeding commenced under § 5-115 of this subtitle, the court shall determine all costs of the proceeding, including the reasonable compensation and expenses of appraisers appointed by the court, and shall assess the costs against the professional corporation.
(2) The court may assess costs against the disqualified stockholder, in an amount the court finds equitable, if the court finds that the stockholder acted arbitrarily or in bad faith in refusing to accept the corporation’s offer.
(b) The court may assess the fees and expenses of counsel and experts for the disqualified stockholder against the corporation and in favor of the disqualified stockholder if the court finds that the fair value of the stock substantially exceeded the amount offered by the corporation or that the corporation did not make an offer.
Structure Maryland Statutes
Title 5 - Special Types of Corporations
Subtitle 1 - Professional Service Corporations
Section 5-102 - Single or Multiple Professions; Corporate Form
Section 5-104 - Limitation on Activities; Investments
Section 5-105 - Professional Service to Be Performed Through Licensed Individuals
Section 5-106 - Corporate Name -- General Requirements
Section 5-107 - Inclusion of Stockholder's Surname; Exception
Section 5-108 - Certificate of Authorization for Use of Corporate Name
Section 5-109 - Issuance of Stock
Section 5-110 - Statement on Stock Certificate
Section 5-111 - Transfer of Stock
Section 5-112 - Electing to Be Professional Corporation
Section 5-114 - Acquisition of Stock Upon Death or Disqualification of Stockholder; Proceedings
Section 5-115 - Proceeding to Determine Fair Value
Section 5-116 - Assessment of Costs and Fees in Appraisal Proceeding
Section 5-117 - Directors and Officers
Section 5-118 - Proxy; Voting Trusts
Section 5-119 - Relationship With Client or Patient
Section 5-120 - Privileged Communications
Section 5-121 - Liability for Negligent or Wrongful Act
Section 5-123 - Cessation in Rendering Professional Services
Section 5-124 - Proceeding to Dissolve Professional Corporation
Section 5-125 - Foreign Professional Corporation
Section 5-126 - Foreign Professional Corporation -- Required Information
Section 5-127 - Foreign Professional Corporation -- Revocation of Certificate
Section 5-128 - Adoption of Regulations
Section 5-129 - Jurisdiction Not Restricted; Effect on Standards of Professional Conduct
Section 5-130 - Repeal of Statute by Enactment
Section 5-132 - Suspension or Revocation of Articles of Incorporation