Maryland Code, ALCOHOLIC BEVERAGES AND CANNABIS 11-2302
Terms Used In Maryland Code, ALCOHOLIC BEVERAGES AND CANNABIS 11-2302
- 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.
(i) the surviving spouse;
(ii) the surviving partners for the benefit of the partnership; or
(iii) the senior surviving officer of the corporation for the benefit of the corporation.
(2) The new license shall be issued:
(i) for the balance of the license year; and
(ii) without further proceedings.
(b) A renewal license may be issued to the following if they are qualified to hold the license:
(1) the surviving spouse;
(2) the surviving partners of a partnership; or
(3) the senior surviving officer of a corporation for the benefit of the corporation.