Terms Used In Maryland Code, STATE PERSONNEL AND PENSIONS 21-101

  • 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.
  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See
(a) There is a State Retirement and Pension System.

(b) The State Retirement and Pension System shall provide benefits under this Division II for participants in the several systems.

(c) The State Retirement and Pension System has the powers and privileges of a corporation.