Section 12-810 – Survivability of Contracts and Legal Defenses
The forfeiture of the right to do business in the State and the right to the use of the name of the statutory trust under this title does not: (1) Impair the validity of a contract entered into by the statutory trust or any act of the statutory trust before or after the forfeiture; or (2) Prevent […]
Section 12-607 – Governing Instrument
(a) Notwithstanding anything to the contrary contained in its governing instrument, the governing instrument of a statutory trust containing a specific reference to this section may provide that an agreement of merger or consolidation approved in accordance with this subtitle may: (1) Effect any amendment to the governing instrument of the statutory trust; or (2) Effect the adoption […]
Section 12-901 – Law Governing
(a) Subject to the Maryland Constitution: (1) The laws of the jurisdiction under which a foreign statutory trust is formed govern its organization, internal affairs, and the liability of its trustees; and (2) A foreign statutory trust may not be denied registration by reason of any difference between the laws under which the foreign statutory trust is formed […]
Section 12-608 – Certificates of Merger or Consolidation
(a) The Department shall prepare certificates of merger or consolidation that specify: (1) The name of each party to the articles of merger or consolidation; (2) The name of the successor and the location of its principal office in the State or, if it has none, its principal place of business; and (3) The time the articles of merger […]
Section 12-902 – Registration
(a) Before doing any interstate, intrastate, or foreign business in this State, a foreign statutory trust shall register with the Department. (b) To register, a foreign statutory trust shall submit to the Department an application for registration as a foreign statutory trust executed by an authorized person and setting forth: (1) The name of the foreign statutory trust […]
Section 12-609 – Property Certificates
(a) In order to keep the land assessment records current in each county, the Department shall require a statutory trust, corporation, partnership, limited partnership, or limited liability company to submit with the articles of merger or consolidation a property certificate for each county where a merging or consolidating statutory trust, corporation, partnership, limited partnership, or limited […]
Section 12-610 – Consummation of Merger or Consolidation
(a) Consummation of a merger or consolidation has the effects provided in this section. (b) The separate existence of each statutory trust, other business entity or foreign business entity party to the articles of merger or consolidation, except the successor, ceases. (c) The beneficial interests of each statutory trust party to the articles of merger or consolidation which […]
Section 12-611 – Dissolution and Winding Up
(a) In the event that a statutory trust does not have perpetual existence, a statutory trust shall be dissolved and its affairs wound up as provided in its governing instrument. (b) On dissolution of a statutory trust and until the filing of a certificate of cancellation as provided in § 12–204(d) of this title, the trustees or […]
Section 12-701 – Authorized
Fees for documents filed or requested under this title shall be as provided for in § 1-203 of this article.
Section 12-801 – Annual Obligations; Proclamation of Forfeiture Upon Failure to Fulfill
(a) (1) Except with respect to a tax collectible locally, the State Comptroller shall certify to the Department, as soon as practicable after October 1 of each year, a list of every Maryland statutory trust that has not paid a tax that was due before October 1 of the year. (2) When the Comptroller certifies the list to […]