Maryland Code, AGRICULTURE 4-120
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, AGRICULTURE 4-120
- Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
Every person subject to the requirements of this subtitle, whether or not required to be licensed, shall maintain records required by departmental rules and regulations. Each person, upon notification by the Secretary, shall afford the Secretary access to his place of business at any reasonable time; the opportunity to inspect the facilities, inventory, and records; and the opportunity to copy any record and take any reasonable sample of inventory upon payment of its fair market value. Any record required to be maintained by this section shall be maintained at least for the period of time the Secretary prescribes by rule or regulation.