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Subtitle 1 - Definitions; General Provisions
Section 12-101 - Definitions - (a) In this title the following words have the meanings...
Section 12-101.1 - Presumption of Business Trust - The use of the designation “business trust” or a statement...
Section 12-102 - Applicable Law; Tax Classification; Income Tax Exemption - (a) Except as provided in the governing instrument of a...
Section 12-103 - Separate Legal Entity - A statutory trust established in accordance with the provisions of...
Section 12-104 - Short Title - This title may be cited as the “Maryland Statutory Trust...
Section 12-105 - Construction - (a) This title shall be liberally construed to give maximum...
Subtitle 2 - Formation and Powers
Section 12-201 - Nature of Statutory Trust - (a) Except as provided in subsection (b) of this section,...
Section 12-202 - Perpetual Existence; Dissolution; Winding Up; Claims and Obligations - (a) Except as provided in its governing instrument, a statutory...
Section 12-203 - Principal Office; Resident Agent - (a) A Maryland statutory trust shall have: (1) A principal...
Section 12-204 - Certificate of Trust -- in General - (a) (1) A certificate of trust filed by a statutory...
Section 12-205 - Certificate of Trust -- Execution, Filing, Recordation, Etc - (a) (1) Articles of merger or consolidation, a restated certificate...
Section 12-206 - Name - The name of each statutory trust as set forth in...
Section 12-207 - Governing Instrument - (a) A governing instrument may: (1) Provide that a person...
Section 12-208 - Responsibilities of Trustees - Except as provided in the governing instrument of a statutory...
Subtitle 3 - Beneficial Owners
Section 12-301 - Consideration; Obligations; Penalties Upon Failure to Make Contribution - (a) (1) A person may become a beneficial owner of...
Section 12-302 - Liability; Defenses - (a) Except as provided in the governing instrument of a...
Section 12-303 - Beneficial Interests - (a) Except as provided in the governing instrument of a...
Section 12-304 - Indemnification - (a) Except as provided in its governing instrument, a statutory...
Section 12-305 - Information Access - (a) Except as provided in the governing instrument of a...
Section 12-306 - Meetings; Actions; Consent; Affirmative Vote - (a) Except as provided in the governing instrument of a...
Subtitle 4 - Trustees; Powers; Liabilities
Section 12-401 - Trustee Management; Limitation on Duties and Liabilities of Others - (a) Except as provided in its governing instrument, the business...
Section 12-402 - Trustee Liability; Restrictions on Liability Expansion or Limitations in Governing Instrument - (a) Subject to the provisions of subsections (d) and (e)...
Section 12-403 - Indemnification - (a) Except as provided in its governing instrument, a statutory...
Section 12-404 - Meetings; Actions; Consent; Affirmative Vote - (a) Except as provided in the governing instrument of a...
Section 12-405 - Investment Company - (a) This section applies to a statutory trust that is...
Subtitle 5 - Legal Proceedings
Section 12-501 - Service of Process; Jurisdiction; Attachment; Seizure of Certain Assets - (a) Service of process on a statutory trust may be...
Subtitle 6 - Merger or Consolidation
Section 12-601 - Authorization - Except as provided in its governing instrument, a statutory trust...
Section 12-602 - Approval - (a) Except as provided in the governing instrument of a...
Section 12-603 - Exchange of Securities; Termination or Amendment of Merger - (a) In or in connection with a merger or consolidation,...
Section 12-604 - Articles of Merger -- Filing - Articles of merger or consolidation shall be filed for record...
Section 12-605 - Articles of Merger or Consolidation -- Contents - Articles of merger or consolidation shall state: (1) The name...
Section 12-606 - Effective Date - Unless a future effective time is provided in articles of...
Section 12-607 - Governing Instrument - (a) Notwithstanding anything to the contrary contained in its governing...
Section 12-608 - Certificates of Merger or Consolidation - (a) The Department shall prepare certificates of merger or consolidation...
Section 12-609 - Property Certificates - (a) In order to keep the land assessment records current...
Section 12-610 - Consummation of Merger or Consolidation - (a) Consummation of a merger or consolidation has the effects...
Section 12-611 - Dissolution and Winding Up - (a) In the event that a statutory trust does not...
Subtitle 7 - Fees
Section 12-701 - Authorized - Fees for documents filed or requested under this title shall...
Subtitle 8 - Forfeiture
Section 12-801 - Annual Obligations; Proclamation of Forfeiture Upon Failure to Fulfill - (a) (1) Except with respect to a tax collectible locally,...
Section 12-802 - Notice of Proclamation; Cure - (a) (1) Within 10 days after the issuance of a...
Section 12-803 - Correction of Mistaken Proclamation - (a) If the Department is satisfied that a statutory trust...
Section 12-804 - Construction of Subtitle With Other Laws - This subtitle does not repeal, supersede, or in any manner...
Section 12-805 - Certificate of Reinstatement -- Application - If the authority of a statutory trust to do business...
Section 12-806 - Certificate of Reinstatement -- Contents - A certificate of reinstatement shall include: (1) The name of...
Section 12-807 - Certificate of Reinstatement -- Acceptance - The Department may not accept a certificate of reinstatement for...
Section 12-808 - Certificate of Reinstatement -- Evidentiary Effect - Except in a proceeding by the State or any of...
Section 12-809 - Violation; Penalty; Limitation - (a) Any person that transacts business in the name of,...
Section 12-810 - Survivability of Contracts and Legal Defenses - The forfeiture of the right to do business in the...
Subtitle 9 - Foreign Statutory Trusts
Section 12-901 - Law Governing - (a) Subject to the Maryland Constitution: (1) The laws of...
Section 12-902 - Registration - (a) Before doing any interstate, intrastate, or foreign business in...
Section 12-903 - Name - A foreign statutory trust may register with the Department under...
Section 12-904 - Changes and Amendments - If any statement in the application for registration of a...
Section 12-905 - Cancellation of Registration - (a) A foreign statutory trust may cancel its registration by...
Section 12-906 - Doing Business Without Registration - (a) If a foreign statutory trust is doing or has...
Section 12-907 - Action by Attorney General - The Attorney General may bring an action to restrain a...
Section 12-908 - Doing Business - (a) In addition to any other activities which may not...
Section 12-909 - Assent to State Laws - By doing intrastate, interstate, or foreign business in this State,...
Section 12-910 - Compliance With Subtitle Is Not Consent to Suit - With respect to a cause of action as to which...
Section 12-911 - Law Governing Merger - (a) If a foreign statutory trust that owns property rights,...
Section 12-912 - Forfeiture of Right to Do Business - (a) The Department may forfeit the right of a foreign...
Subtitle 10 - Conversions of Statutory Trusts
Section 12-1001 - General Rule - (a) In this subtitle, “other entity” means: (1) A Maryland...
Section 12-1002 - Approval - (a) Except as provided in the governing instrument, a conversion...
Section 12-1003 - Articles of Conversion - (a) In this section, “facts ascertainable outside the articles of...
Section 12-1004 - Effects of Conversion - (a) A conversion has the effects provided in this section....
Section 12-1005 - Exchange or Conversion of Interests and Stock - (a) In a conversion of an other entity to a...
Section 12-1006 - Completion of Conversion - (a) The conversion of an other entity to a statutory...
Section 12-1007 - Abandonment of Proposed Conversion - (a) Except as provided in the governing instrument, unless the...