Maryland Code, ECONOMIC DEVELOPMENT 10-133
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Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 10-133
- 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.
- Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(a) On or before October 1 of each year, the Corporation shall submit a report to the Governor, the Maryland Economic Development Commission, and, in accordance with § 2-1257 of the State Government Article, the General Assembly.
(b) The report shall include a complete operating and financial statement and summarize the activities of the Corporation during the preceding fiscal year.