Maryland Code, CORPORATIONS AND ASSOCIATIONS 7-304
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 7-304
- 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.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) Within the time required by law; and
(2) Thereafter, within 30 days after the Department makes a written demand for the delinquent report or late filing penalties.
(b) Unless the Department excuses a reasonable delay for good cause shown, the forfeiture is effective 15 days after written notice of forfeiture from the Department, without proceedings of any kind either at law or in equity.
(c) The demand for a delinquent report or late filing penalties and the notice of forfeiture shall be addressed to the corporation:
(1) At its address on file with the Department; or
(2) If it has no address on file with the Department, in care of the Secretary of State or corresponding official of the place where it was organized or is existing, if known to the Department.
(d) On forfeiture of its right to do intrastate business in this State, the foreign corporation is subject to the same rules, legal provisions, and sanctions as if it had never qualified or been licensed to do business in this State.