Maryland Code, BUSINESS REGULATION 5-902
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, BUSINESS REGULATION 5-902
- 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.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
Except for a registered cemeterian, registered crematory operator, or registered seller who operates a business as a sole proprietor or a registrant employed by a sole proprietor, a person may not engage in the operation of a cemetery, crematory, or burial goods business unless:
(1) the business is a corporation, limited liability company, or partnership; and
(2) the corporation, limited liability company, or partnership holds a permit issued under this title.