Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-101
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 2-101
- 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.
(a) Except as otherwise expressly provided by law, a corporation may be formed under this title for any lawful purposes.
(b) If the purpose for which a corporation is organized or its form makes it subject to a special provision of law, the corporation also shall comply with that provision.