Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 3-401
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Terms Used In Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 3-401
- 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.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
In this subtitle, “responsible member” means a director or an officer of a corporation, a member of a limited liability company, or a general partner of a partnership who is appointed under § 3-404(c) of this subtitle to be in responsible charge of architecture practiced through the corporation, limited liability company, or partnership.