In an article authored for Today’s General Counsel, partner Tracy Bacigalupo discusses how new legislation in Maryland, Senate Bill 136, provides Maryland-formed companies with the statutory framework necessary to migrate their businesses to a blockchain-enabled platform. The legislation reinforces Maryland as a ‘go to’ state for those seeking a pro-business, pro-future statutory framework for their companies.
Senate Bill 136, which Maryland Governor Hogan signed on April 30, 2019, and went into effect on October 1, 2019, “provides explicit statutory authority for Maryland companies to use electronic networks or databases, including distributed ledgers and blockchain technology, for the creation and maintenance of corporate records, including a company’s stock ledger,” writes Tracy. The article then further details the many benefits now available to Maryland companies as a result of this new legislation.
Read the full article.