Maryland Code, HUMAN SERVICES 11-405
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Terms Used In Maryland Code, HUMAN SERVICES 11-405
- 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.
(a) (1) This subsection does not apply to reasonable compensation paid for services rendered to or for the Corporation.
(2) Net earnings of the Corporation may not inure to the benefit of any individual.
(b) An individual may not share in the distribution of corporate assets on dissolution of the Corporation.