MD HB996

State Department of Assessments and Taxation must notify filers when charter documents are rejected and provide the reason; corrected documents refiled within 30 days will be accepted with the original filing date

Open-end investment companies registered under the Federal Investment Company Act of 1940 may take board or committee actions without a meeting if a majority consents in writing, with notice sent to all directors within 3 days

Bankruptcy trustees or receivers may amend charters, amend bylaws, transfer assets, or dissolve corporations to carry out final orders without stockholder or board approval

Foreign corporations doing business in Maryland without proper registration face a $200 penalty; the existing misdemeanor penalty (up to $1,000 fine) for officers and agents is repealed

Partnership agreements govern how they may be amended; amendments require unanimous partner consent unless the agreement specifies otherwise, and amendments may require approval from non-parties or satisfaction of specified conditions