(a) A corporation may terminate status as a benefit corporation and cease to be subject to this subtitle by amending the charter of the corporation to delete the statement that the corporation is a benefit corporation.
(b) An amendment terminating a corporation’s status as a benefit corporation shall be approved by the stockholders of the corporation in accordance with Title 2, Subtitle 6 of this article.
Structure Maryland Statutes
Title 5 - Special Types of Corporations
Subtitle 6C - Benefit Corporations
Section 5-6C-02 - Applicability of Provisions
Section 5-6C-03 - Election by Corporation to Become Benefit Corporation
Section 5-6C-04 - Termination of Status as Benefit Corporation
Section 5-6C-05 - Reference to Fact of Benefit Corporation Status