Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 14-408
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Terms Used In Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 14-408
- 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.
Within 60 days after the effective date of the change or occurrence, a permit holder shall notify the Board in writing if there has been a change in:
(1) the identity of the managing agent; or
(2) the name of the corporation, partnership, or limited liability company.