Maryland Code, CORPORATIONS AND ASSOCIATIONS 1-501
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 1-501
- 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, “entity” includes:
(1) A corporation;
(2) A limited liability company;
(3) A limited liability partnership;
(4) A limited partnership;
(5) A limited liability limited partnership;
(6) A professional corporation;
(7) A trade name filer; and
(8) A business trust.