Abstract

During its 2024 session, the General Assembly of Maryland approved Senate Bill 400 and House Bill 749, amending several provisions of the Maryland General Corporation Law (the ‘MGCL’) and the Maryland REIT Law (the ‘MRL’), which are now codified as Chapters 609 and 608 of the Laws of Maryland 2024, respectively. The General Assembly also approved House Bill 888 and Senate Bill 544, amending certain provisions of Title 2, Subtitle 7, of the MGCL relating to the ratification of defective corporate acts, which are now codified as Chapters 605 and 604 of the Laws of Maryland 2024, respectively. The legislation will take effect on 1 October 2024. Here are the key provisions (all section references are to the MGCL unless otherwise noted).