Maryland Code, COURTS AND JUDICIAL PROCEEDINGS 11-105
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Terms Used In Maryland Code, COURTS AND JUDICIAL PROCEEDINGS 11-105
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
In any cause of action affecting the common property, rights, and liabilities of an unincorporated association, joint stock company, or other group which has a recognized group name, a money judgment against the group is enforceable only against the assets of the group as an entity, but not against the assets of any member.