Maryland Code, CORPORATIONS AND ASSOCIATIONS 8-502
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 8-502
- 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.
- County: means a county of the State or Baltimore City. See
- Venue: The geographical location in which a case is tried.
(a) A real estate investment trust may terminate its existence by voluntary dissolution. The Department shall be notified of the effective date of the dissolution.
(b) A real estate investment trust may curtail or cease its trust activities by partially or completely distributing its assets.
(c) (1) The Attorney General may institute proceedings to dissolve a real estate investment trust which has abused, misused, or failed to use its powers. The proceedings shall be brought in the manner and on the grounds provided in Title 3, Subtitle 5 of this article with respect to dissolution of a corporation for misuse of its franchise.
(2) The venue of an action under this subsection is in a county where an officer or resident agent of the real estate investment trust is located.