Section 5-702 - Assets Subject to Charitable or Other Restrictions

(a) A charitable or religious Maryland nonstock corporation may petition a court of equity for a decree under § 5–209 of this title if: (1) The dissolution of the corporation involves provisions for disposition of assets under § 5–208(b)(2) or (3) of this title; or (2) A consolidation, merger, or transfer of assets of the corporation under § 5–207 of this title involves similar provisions for the successor corporation. (b) The failure to petition a court of equity and obtain a decree does not affect the otherwise valid actions of the corporation in dissolution, consolidation, or merger, or in a transfer of assets.