Maryland Code, FINANCIAL INSTITUTIONS 3-205
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Terms Used In Maryland Code, FINANCIAL INSTITUTIONS 3-205
- 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.
(a) When articles of incorporation are filed for record in accordance with § 3-204 of this subtitle, the commercial bank becomes a corporation.
(b) Notwithstanding any charter provision or provision of law, each commercial bank has the right to perpetual existence until forfeiture.