Maryland Code, PUBLIC UTILITIES 6-208
Terms Used In Maryland Code, PUBLIC UTILITIES 6-208
- 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.
(1) the public service company; and
(2) each:
(i) parent;
(ii) subsidiary of the public service company;
(iii) organization the public service company controls; and
(iv) joint venture in excess of $1,000,000 in which the public service company is involved.
(b) (1) For each principal business activity described in subsection (a) of this section, a public service company shall list and describe by SIC code and short title each industry in which the public service company’s activities generated, during the reporting year, at least 10% of gross revenues or $5,000,000.
(2) The public service company shall compile the list described under paragraph (1) of this subsection in order of significance relative to the total activities of the public service company, based on the percentage of gross revenues generated within each industry.
(c) For each corporation, partnership, or other business organization in which a public service company owns more than 5% of the outstanding voting securities or other ownership interests, the public service company shall, in its annual report:
(1) list the corporation, partnership, or other business organization; and
(2) indicate the percentage that the public service company owns.