Maryland Code, ECONOMIC DEVELOPMENT 12-410
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Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 12-410
- 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.
An established district may expand the geographic area of the district if:
(1) a petition for inclusion is submitted from at least 80% of the owners of the total number of parcels of nonexempt property in the geographic area proposed for inclusion in the district;
(2) the petition under item (1) of this subsection is accepted by a majority vote of the board of the district corporation; and
(3) the appropriate documents, as applicable, are submitted under § 12-407 of this subtitle and a hearing is held under § 12-408 of this subtitle.