Subtitle 1 Definitions; General Provisions 4-101 – 4-102
Subtitle 2 Election to Be a Close Corporation 4-201 – 4-203
Subtitle 3 Board of Directors 4-301 – 4-303
Subtitle 4 Stockholders 4-401 – 4-404
Subtitle 5 Stock Restrictions 4-501 – 4-504
Subtitle 6 Termination of Existence 4-601 – 4-603

Terms Used In Maryland Code > CORPORATIONS AND ASSOCIATIONS > Title 4 - Close Corporations

  • Adult: means an individual at least 18 years old. See
  • Appraisal: A determination of property value.
  • Attachment: A procedure by which a person's property is seized to pay judgments levied by the court.
  • Bequest: Property gifted by will.
  • Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant.
  • de novo: means judicial review based on an administrative record and any additional evidence that would be authorized by § 10-222(f) and (g) of the State Government Article. See
  • Discovery: Lawyers' examination, before trial, of facts and documents in possession of the opponents to help the lawyers prepare for trial.
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • minor: means an individual under the age of 18 years. See
  • Personal representative: includes an administrator and an executor. See
  • Probable cause: A reasonable ground for belief that the offender violated a specific law.
  • Prosecute: To charge someone with a crime. A prosecutor tries a criminal case on behalf of the government.
  • Uphold: The decision of an appellate court not to reverse a lower court decision.