Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 2-501
Terms Used In Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 2-501
- 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.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(i) require that each office maintained in the State for the practice of accounting by an individual accountant or partnership or corporate permit holder be registered every 2 years with the Board by the individual, partnership, or corporation; and
(ii) set the procedure to carry out the registration.
(2) The Board may not charge a fee for any registration required under this section.
(b) If a licensee or a permit holder fails to register any office as required by a regulation adopted under subsection (a) of this section, the license or permit shall:
(1) be suspended automatically; and
(2) remain suspended until the licensee or permit holder complies with the registration requirements adopted under this section.