Maryland Code, COURTS AND JUDICIAL PROCEEDINGS 6-412
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Terms Used In Maryland Code, COURTS AND JUDICIAL PROCEEDINGS 6-412
- 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.
- 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.
(a) A nongovernmental corporate party shall, with its first appearance, pleading, petition, motion, response, or other request addressed to the court, file one copy of a disclosure statement that:
(1) Identifies any parent corporation and any publicly held corporation owning 10% or more of its stock;
(2) Identifies any member or owner in a joint venture or limited liability corporation;
(3) Identifies all partners in a partnership or limited liability partnership;
(4) Identifies any corporate member, if the party is any other unincorporated association; or
(5) States that there is no such corporation.
(b) If any information filed in accordance with subsection (a) of this section changes, the nongovernmental corporate party shall file a supplemental statement.