(a) In order to keep the land assessment records current in each county, the Department shall require a corporation, limited partnership, limited liability company, or business trust to submit with the articles a property certificate for each county where a merging corporation, partnership, limited partnership, limited liability company, or business trust other than the successor or a consolidating corporation owns an interest in land.
(b) A property certificate is not required with respect to any property in which the only interest owned by the merging corporation, partnership, limited partnership, limited liability company, or business trust or by the consolidating corporation is a security interest.
(c) The property certificate shall be in the form and number of copies which the Department requires and may include the certificate of the Department required by § 3-111 of this subtitle.
(d) (1) The property certificate shall:
(i) Provide a deed reference or other description sufficient to identify the property; and
(ii) State the actual consideration paid or to be paid for the property.
(2) The Department shall indicate on the certificate the time the articles are accepted for record and send a copy of it to the chief assessor of the county where the property is located.
(e) A transfer, vesting, or devolution of title to the property is not invalidated or otherwise affected by any error or defect in the property certificate, failure to file it, or failure of the Department to act on it.
Structure Maryland Statutes
Title 3 - Corporations in General -- Extraordinary Actions
Subtitle 1 - Consolidation, Merger, and Transfer of Assets
Section 3-103 - Consideration for Stock or Assets
Section 3-106 - Procedure for Merger of Subsidiary Corporation if Charter of Parent Not Amended
Section 3-106.1 - Procedure for Merger Preceded by Tender or Exchange Offer by Acquiring Entity
Section 3-106.2 - Formation of Holding Company by Merger
Section 3-107 - Filing of Articles
Section 3-108 - Abandonment of Proposed Consolidation, Merger, or Share Exchange
Section 3-109 - Contents of Articles of Consolidation, Merger, or Share Exchange
Section 3-110 - Execution of Articles
Section 3-111 - Action by Department
Section 3-112 - Property Certificate for Assessment Records
Section 3-113 - Time Consolidation, Merger, or Share Exchange Effective
Section 3-114 - Effect of Consolidation or Merger
Section 3-114.1 - Effect of Share Exchange
Section 3-115 - Effect of Transfer of Assets
Section 3-116 - Waiver of Exemptions
Section 3-117 - Consolidations and Mergers of Foreign Corporations