Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 3-405
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Terms Used In Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 3-405
- 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.
(a) An applicant for a permit shall:
(1) submit to the Board an application on the form that the Board provides; and
(2) pay to the Board a nonrefundable application fee set by the Board.
(b) In addition to any other information required on an application form, the form shall require the name and address of:
(1) each responsible member of a corporation, limited liability company, or partnership;
(2) each officer and director of a corporation;
(3) each member of a limited liability company; and
(4) each partner of a partnership.