Maryland Code, LOCAL GOVERNMENT 4-504
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Terms Used In Maryland Code, LOCAL GOVERNMENT 4-504
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
(a) The unified charter is a legal document separate from any other legal instrument.
(b) The unified charter shall provide that the unified municipality receive the assets and liabilities of the merging municipalities.