Maryland Statutes
Subtitle 3 - Licensing and Responsibilities of Licensees
Section 11-301 - "Beneficial Ownership" Defined

In this subtitle, “beneficial ownership” includes:
        (1)    record ownership;
        (2)    stock or other ownership in an entity in a chain of parent and subsidiary or affiliated entities, any 1 of which participates in the capital or profits of a licensee, regardless of the percentage of ownership involved;
        (3)    an interest that entitles a person to benefits substantially equivalent to ownership by an agreement, relationship, or other arrangement even though the person is not an owner of record; and
        (4)    unless there are special circumstances, ownership of a security by a relative of an individual who lives in the home of the individual.

Structure Maryland Statutes