Maryland Code, COMMERCIAL LAW 15-301
Terms Used In Maryland Code, COMMERCIAL LAW 15-301
- 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.
- County: means a county of the State or Baltimore City. See
- Guarantor: A party who agrees to be responsible for the payment of another party's debts should that party default. Source: OCC
- including: means includes or including by way of illustration and not by way of limitation. See
- Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
- 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.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) (1) “Assignment” includes every transfer, sale, pledge, mortgage, or hypothecation, however made or attempted, of the wages of a person or any interest in them.
(2) “Assignment” does not include an authorization by a borrower or his guarantor or surety for payroll deductions to repay a loan made by a state or federally chartered credit union to a credit union member.
(c) “County” includes Baltimore City.
(d) “Court” means the District Court for the county where an assignor resides.
(e) “Person” includes an individual, corporation, business trust, statutory trust, estate, trust, partnership, association, two or more persons having a joint or common interest, or any other legal or commercial entity.
(f) “Wages” means all remuneration paid to any employee for his employment, including the cash value of all remuneration paid in any medium other than cash.