Maryland Code, ECONOMIC DEVELOPMENT 11-415
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Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 11-415
- 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.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
An obligation of the Corporation is not a debt, liability, or pledge of the full faith and credit of the State.