Terms Used In Maryland Code, STATE PERSONNEL AND PENSIONS 31-107

  • 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.
The only employees of the University of Maryland Medical System Corporation who are eligible to participate in the employees’ systems under this subtitle are employees who were:

(1) members of an employees’ system; and

(2) (i) employees of the University of Maryland on June 30, 1988, who became Medical System Corporation employees on or before July 1, 1988;

(ii) employees of the University of Maryland System on June 30, 1990, who voluntarily became Medical System Corporation employees on or before July 1, 1991; or

(iii) Montebello University employees as defined in § 13-401(g) of the Education Article who were employees of the University of Maryland on June 30, 1992, and who became employees of the University of Maryland Medical System Corporation in accordance with § 13-404 of the Education Article.