Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-501
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 4A-501
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
The capital contribution of a member to a limited liability company may be in cash, property, services rendered, or a promissory note or other binding obligation to contribute cash or property or to perform services.