Step 1: Understand the meaning.
Rank of \( M \) = dimension of its column space = maximum number of linearly independent columns.
Step 2: Each \( Me_i \) is the \( i^{th} \) column of \( M \).
Hence, \( \{Me_1, Me_2, Me_3\} \) are the columns of \( M \).
Step 3: If rank(\(M\)) = 2,
Then any two columns of \( M \) can be linearly independent.
Thus, \( \{Me_1, Me_2\} \) form a linearly independent set.
Final Answer: (B)