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Terms Used In Maryland Code, EDUCATION 13-310

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • 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.
  • state: means :

    (1) a state, possession, territory, or commonwealth of the United States; or

    (2) the District of Columbia. See
Obligations of the Medical System Corporation:

(1) Are payable only from assets of the Medical System Corporation; and

(2) Are not debts or obligations of the University or the State.