Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-313
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-313
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
(b) Except as provided in subsection (c) of this section, the statement of affairs shall be submitted at the annual meeting of stockholders and, within 20 days after the meeting:
(1) Placed on file at the corporation’s principal office or at any other office or agency specified in the bylaws of the corporation, in written form; or
(2) Otherwise maintained by or on behalf of the corporation in any other form that complies with § 2-114 of this title.
(c) If a corporation is not required to hold an annual meeting of stockholders under a charter or bylaw provision adopted in accordance with § 2-501 of this title, within 120 days after the end of the fiscal year, the statement of affairs shall be:
(1) Placed on file at the corporation’s principal office or at any other office or agency specified in the bylaws of the corporation in written form; or
(2) Otherwise maintained by or on behalf of the corporation in any other form that complies with § 2-114 of this title.