Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 3-409
Current as of: 2023 | Check for updates
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Terms Used In Maryland Code, BUSINESS OCCUPATIONS AND PROFESSIONS 3-409
- 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.
Within 1 month after the effective date of the change, a permit holder shall submit to the Board an application form that shows a change in the name of:
(1) a responsible member of the holder;
(2) an officer or director, if the holder is a corporation;
(3) a member, if the holder is a limited liability company; or
(4) a partner, if the holder is a partnership.