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Section 3-703 - Acquiring Person Statement — Maryland Law | CourtGPT
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  7. Section 3-703 - Acquiring Person Statement
Maryland Legal Code

Section 3-703 - Acquiring Person Statement

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Any person who proposes to make or who has made a control share acquisition may deliver an acquiring person statement to the corporation at the corporation’s principal office. The acquiring person statement shall set forth all of the following: (1) The identity of the acquiring person and each other member of any group of which the person is a part for purposes of determining control shares; (2) A statement that the acquiring person statement is given under this subtitle; (3) The number of shares of the corporation owned (directly or indirectly) by the acquiring person and each other member of any group; (4) The applicable range of voting power as set forth in § 3–701(e) of this subtitle; and (5) If the control share acquisition has not occurred: (i) A description in reasonable detail of the terms of the proposed control share acquisition; and (ii) Representations of the acquiring person, together with a statement in reasonable detail of the facts on which they are based, that: 1. The proposed control share acquisition, if consummated, will not be contrary to law; and 2. The acquiring person has the financial capacity, through financing to be provided by the acquiring person and

e proposed control share acquisition, if consummated, will not be contrary to law; and 2. The acquiring person has the financial capacity, through financing to be provided by the acquiring person and any additional specified sources of financing required under § 3–705 of this subtitle, to make the proposed control share acquisition.