Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-102
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-102
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(2) Except as provided in paragraph (3) of this subsection, a corporation that is eligible to be a professional corporation under this subtitle may not organize under any other corporate form permitted by this article.
(3) Paragraph (2) of this subsection does not apply to professional services rendered by:
(i) An architect;
(ii) A professional engineer;
(iii) A licensed real estate broker, licensed real estate salesperson, or licensed associate real estate broker; or
(iv) A veterinarian.
(b) A corporation may be a professional corporation under § 5-112 of this subtitle for the purpose of rendering the same, similar, or related professional services within 2 or more professions.