Maryland Code, ECONOMIC DEVELOPMENT 1-101
Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 1-101
- 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
- Fiduciary: A trustee, executor, or administrator.
- Guardian: A person legally empowered and charged with the duty of taking care of and managing the property of another person who because of age, intellect, or health, is incapable of managing his (her) own affairs.
- 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.
- Personal representative: includes an administrator and an executor. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See - Trustee: A person or institution holding and administering property in trust.
(b) “County” means a county of the State or Baltimore City.
(c) “Department” means the Department of Commerce.
(d) “Person” means an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, partnership, firm, association, corporation, or other entity.
(e) “Secretary” means the Secretary of Commerce.
(f) (1) Except as provided in paragraph (2) of this subsection, “state” means:
(i) a state, possession, territory, or commonwealth of the United States; or
(ii) the District of Columbia.
(2) When capitalized, “State” means Maryland.
(g) (1) “Tier I county” means a county with:
(i) an average rate of unemployment for the most recent 24-month period for which data are available that exceeds 150% of the average rate of unemployment for the State during that period;
(ii) an average rate of unemployment for the most recent 24-month period for which data are available that exceeds the average rate of unemployment for the State by at least 2 percentage points; or
(iii) a median household income for the most recent 24-month period for which data are available that is equal to or less than 75% of the median household income for the State during that period.
(2) “Tier I county” includes a county that:
(i) no longer meets any of the criteria stated in paragraph (1) of this subsection; but
(ii) has met at least one of the criteria at some time during the preceding 24-month period.