Maryland Code, CORPORATIONS AND ASSOCIATIONS 3-116
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 3-116
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- 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 Maryland corporation which consolidates, merges, or transfers its assets waives all claim to any exemption from:
(1) Taxation granted by its charter; and
(2) Repeal or modification of its charter.