On April 30, 2019, Governor Hogan signed Senate Bill 136, which
amends the Maryland General Corporation Law to permit certain
corporate records (including a company’s stock ledger) to be
maintained on electronic networks or databases, including through
the use of distributed ledgers and blockchain technology. This
legislation welcomes and facilitates the use of groundbreaking and
innovative blockchain technology and provides Maryland companies
with the statutory framework to migrate to a blockchain platform.
These important amendments to the Maryland General Corporation Law
will be effective October 1, 2019.
The amendments also permit a company to transmit communications
(such as annual statements and stockholder notices) by means of a
distributed electronic network or database, which includes by means
of blockchain technology.
