Maryland Code, CORPORATIONS AND ASSOCIATIONS 10-909
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 10-909
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
- including: means includes or including by way of illustration and not by way of limitation. See
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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.
- 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
- Personal property: All property that is not real property.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) Maintaining, defending, or settling an action, suit, claim, dispute, or administrative or arbitration proceeding;
(2) Holding meetings of its partners or carrying on other activities which concern its internal affairs;
(3) Maintaining bank accounts;
(4) Conducting an isolated transaction not in the course of a number of similar transactions;
(5) Foreclosing mortgages and deeds of trust on property in this State;
(6) As a result of default under a mortgage or deed of trust, acquiring title to property in this State by foreclosure, deed in lieu of foreclosure, or otherwise;
(7) Holding, protecting, renting, maintaining, and operating property in this State so acquired; and
(8) Selling or transferring the title to property in this State so acquired to any person, including the Federal Housing Administration or the Veterans Administration.
(b) In addition to any other activities which may constitute doing business in this State, for the purposes of this article any foreign limited partnership which owns income-producing real or tangible personal property in this State, other than property exempted by subsection (a) of this section, will be considered to be doing business in this State.