Corporations and Associations - Revisions

SB 631 updates Maryland's corporate law by requiring the State Department of Assessments and Taxation to notify filers if a charter document is rejected, including the reason for rejection. It allows corrected documents to be accepted as filed on the original date if resubmitted within 30 days. The bill also permits corporate boards and committees to act via unanimous written or electronic consent without meetings, with specific filing requirements, and applies this rule to certain investment companies. Additionally, it repeals outdated provisions about penalties for foreign corporations and rules governing partnership agreement amendments.