Maryland Statutes
Subtitle 2 - Fees and Recording
Section 1-209 - Filing Charter Amendment on Cessation of Family Farm

(a)    In this section, “family farm” means an entity that:
        (1)    Is a domestic entity;
        (2)    (i)    1.    Owns, or within 1 year after filing articles of incorporation, articles of organization, or a certificate of partnership, will own or take control of property that qualifies for agricultural use assessment under § 8-209 of the Tax - Property Article; and
                2.    Owns only agriculturally or residentially assessed real property and personal property that is used for agricultural purposes; or
            (ii)    Owns only personal property that is used for agricultural or agricultural marketing purposes;
        (3)    Is controlled, managed, and operated by:
            (i)    One individual who has an equity interest in the entity; or
            (ii)    Two or more individuals who have an equity interest in the entity and who share its assets and earnings;
        (4)    Is declared in a charter provision to be a family farm; and
        (5)    Has no assets other than those described in item (2) of this subsection.
    (b)    Within 1 year after selling all of the property described in subsection (a)(2) of this section, an individual shall file a charter amendment stating that the entity is no longer a family farm.

Structure Maryland Statutes