Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-318
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 5-318
- 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.
Subject to the discipline and government of the Roman Catholic Church, a religious corporation formed under this part has:
(1) To the extent that they are consistent with the general character of the religious corporation, the general powers set forth in § 2-103 of this article; and
(2) The powers set forth in § 5-306 of this subtitle.