Section 12-804 – Construction of Subtitle With Other Laws
This subtitle does not repeal, supersede, or in any manner affect any remedy or provision of law: (1) For the collection of taxes, unemployment insurance contributions, or reimbursement payments and any interest and penalties due; or (2) To compel the filing of annual reports.
Section 12-805 – Certificate of Reinstatement — Application
If the authority of a statutory trust to do business in the State and to use its name has been forfeited for nonpayment of taxes, unemployment insurance contributions, or reimbursement payments, or for failure to file an annual report, the statutory trust may apply for reinstatement by filing a certificate of reinstatement with the Department […]
Section 12-806 – Certificate of Reinstatement — Contents
A certificate of reinstatement shall include: (1) The name of the statutory trust at the time its right to do business in the State was forfeited; (2) The name that the statutory trust will use after reinstatement, which shall comply with the provisions of this article with respect to statutory trust names; (3) The address of the principal […]
Section 12-807 – Certificate of Reinstatement — Acceptance
The Department may not accept a certificate of reinstatement for record unless: (1) All annual reports required to be filed by the statutory trust, or which would have been required if the right to do business in the State had not been forfeited, are filed; and (2) Unemployment insurance contributions or reimbursement payments, all State and local […]
Section 12-808 – Certificate of Reinstatement — Evidentiary Effect
Except in a proceeding by the State or any of its political subdivisions, the acceptance of a certificate of reinstatement for record by the Department is conclusive evidence of: (1) The payment of all fees, taxes, unemployment insurance contributions, and reimbursement payments required to be paid; (2) The filing of all reports required to be filed; and […]
Section 12-605 – Articles of Merger or Consolidation — Contents
Articles of merger or consolidation shall state: (1) The name and jurisdiction of formation or organization of each statutory trust or other business entity which is to merge or consolidate and as to each foreign business entity, the date of its formation, and whether it is registered or qualified to do business in the State; (2) The […]
Section 12-809 – Violation; Penalty; Limitation
(a) Any person that transacts business in the name of, or for the account of, a statutory trust knowing that the statutory trust’s right to do business in the State has been forfeited and has not been reinstated at the time the business was transacted is guilty of a misdemeanor and on conviction is subject to […]
Section 12-302 – Liability; Defenses
(a) Except as provided in the governing instrument of a statutory trust, the beneficial owners shall be entitled to the same limitation of personal liability extended to stockholders of a Maryland corporation formed under Title 2 of this article. (b) (1) Neither an obligation of a beneficial owner or trustee of a statutory trust to the statutory trust […]
Section 12-303 – Beneficial Interests
(a) Except as provided in the governing instrument of a statutory trust, a beneficial owner shall have an undivided beneficial interest in the property of the statutory trust and shall share in the profits and losses of the statutory trust in the proportion of the entire undivided beneficial interest in the statutory trust owned by the […]
Section 12-304 – Indemnification
(a) Except as provided in its governing instrument, a statutory trust shall have the power to: (1) Indemnify and hold harmless, and to obligate itself to indemnify and hold harmless, any beneficial owner from and against any and all claims and demands whatsoever; and (2) Pay or reimburse in advance of final disposition of a proceeding, as defined […]