Maryland Code, STATE FINANCE AND PROCUREMENT 16-101
Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 16-101
- 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.
- including: means includes or including by way of illustration and not by way of limitation. See
- Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose.
- 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.
- Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) “Business” means an individual or a corporation, partnership, sole proprietorship, joint venture, or other legal entity through which commercial activity is conducted.
(c) “Contract” means any agreement in any form.
(d) “Controlling stockholder” means a stockholder who:
(1) owns more than 25% of the voting stock of a corporation; or
(2) notwithstanding the number of shares that the stockholder owns, has the power to direct or control the direction of the management or policies of a corporation.
(e) “Convicted” includes an accepted plea of nolo contendere.
(f) “Public body” means:
(1) the State;
(2) a unit; or
(3) a local governmental entity in the State, including a bicounty or multicounty governmental entity.