Maryland Code, CORPORATIONS AND ASSOCIATIONS 9A-101
Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 9A-101
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- including: means includes or including by way of illustration and not by way of limitation. See
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See - Statute: A law passed by a legislature.
(b) “Business” includes every trade, occupation, and profession.
(c) “Debtor in bankruptcy” means a person who is the subject of:
(1) An order for relief under Title 11 of the United States Code or a comparable order under a successor statute of general application; or
(2) A comparable order under federal, State, or foreign law governing insolvency.
(d) “Distribution” means a transfer of money or other property from a partnership to a partner in the partner’s capacity as a partner or to the partner’s transferee.
(e) “Foreign limited liability partnership” means a partnership that is formed in accordance with an agreement governed by the laws of a state other than this State and registered or denominated as a limited liability partnership or registered limited liability partnership under the laws of such other state, but does not include a foreign limited partnership registered or denominated as a limited liability limited partnership under the laws of a state other than this State.
(f) “Foreign limited partnership” means a partnership, including a foreign limited partnership registered or denominated as a limited liability partnership under the laws of a state other than this State, formed under the laws of any state other than this State or under the laws of a foreign country and having as partners one or more general partners and one or more limited partners.
(g) “Limited liability partnership” means a partnership that:
(1) Is formed in accordance with the laws of this State; and
(2) Is registered under § 9A-1001 of this title.
(h) “Limited partnership” and “domestic limited partnership” means a limited partnership formed by two or more persons under the laws of this State and having one or more general partners and one or more limited partners.
(i) “Partnership” means an association of two or more persons to carry on as co-owners a business for profit formed under § 9A-202 of this title, predecessor law, or comparable law of another jurisdiction and includes, for all purposes of the laws of this State, a limited liability partnership and a foreign limited liability partnership.
(j) “Partnership agreement” means the agreement, whether written, oral, or implied, among the partners concerning the partnership, including amendments to the partnership agreement.
(k) “Partnership at will” means a partnership in which the partners have not agreed to remain partners until the expiration of a definite term or the completion of a particular undertaking.
(l) “Partnership interest” or “partner’s interest in the partnership” means all of a partner’s interests in the partnership, including the partner’s transferable interest and all management and other rights.
(m) “Property” means all property, real, personal, or mixed, tangible or intangible, or any interest therein.
(n) “Real estate investment trust” means a Maryland real estate investment trust as defined in § 8-101 of this article.
(o) “State” means a state of the United States, the District of Columbia, the Commonwealth of Puerto Rico, or any territory or insular possession subject to the jurisdiction of the United States.
(p) “Statement” means a statement of partnership authority under § 9A-303 of this title, a statement of denial under § 9A-304 of this title, a statement of dissociation under § 9A-704 of this title, a statement of dissolution under § 9A-805 of this title, or an amendment or cancellation of any of the foregoing.
(q) “Statutory trust” means a Maryland statutory trust as defined in § 12-101 of this article.
(r) “Transfer” includes an assignment, conveyance, lease, mortgage, deed, and encumbrance.