Maryland Code, CORPORATIONS AND ASSOCIATIONS 9A-1011
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Terms Used In Maryland Code, CORPORATIONS AND ASSOCIATIONS 9A-1011
- 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.
The authority to do business in Maryland of any limited liability partnership that is forfeited for nonpayment of taxes, unemployment insurance contributions, or reimbursement payments or failure to file an annual report may be reinstated by filing a certificate of reinstatement with the Department.