Maryland Code, STATE GOVERNMENT 9-2607
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Terms Used In Maryland Code, STATE GOVERNMENT 9-2607
- 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.
- 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
Except for the net earnings of the Corporation necessary to pay debt service or implement the Corporation’s museum plan, the net earnings of the Corporation shall inure to the benefit of the State and not to any person.