Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-303
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-303
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Personal property: All property that is not real property.
(a) Real and personal property owned or purchased by a limited liability company may be acquired in the name of the limited liability company.
(b) An instrument or document for the acquisition, mortgage, or disposition of property of the limited liability company shall be valid and binding upon the limited liability company if executed by 1 or more authorized persons.