Maryland Code, HEALTH – GENERAL 19-224
Terms Used In Maryland Code, HEALTH - GENERAL 19-224
- Contract: A legal written agreement that becomes binding when signed.
- Conviction: A judgement of guilt against a criminal defendant.
- 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.
- 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 - Trustee: A person or institution holding and administering property in trust.
(1) A trustee, director, or officer of any nonprofit facility in this State; and
(2) An employee, partner, director, officer, or beneficial owner of 3 percent or more of the capital account or stock of:
(i) A partnership;
(ii) A firm;
(iii) A corporation; or
(iv) Any other business entity.
(b) Each person specified in subsection (a) of this section shall file with the Commission an annual report that discloses, in detail, each business transaction between any business entity specified in subsection (a)(2) of this section and any facility that the person serves as specified in subsection (a)(1) of this section, if any of the following is $10,000 or more a year:
(1) The actual or imputed value or worth to the business entity of any transaction between it and the facility; or
(2) The amount of the contract price, consideration, or other advances by the facility as part of the transaction.
(c) A report under this section shall be:
(1) Signed and verified; and
(2) Filed in accordance with the procedures and on the form that the Commission requires.
(d) A person that willfully fails to file any report required by this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $500.