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§ 5-608. Interests attributable to individual filing statement

West's Annotated Code of MarylandGeneral ProvisionsEffective: October 1, 2021

West's Annotated Code of Maryland
General Provisions (Refs & Annos)
Title 5. Maryland Public Ethics Law (Refs & Annos)
Subtitle 6. Financial Disclosure (Refs & Annos)
Effective: October 1, 2021
MD Code, General Provisions, § 5-608
Formerly cited as MD CODE, SG, § 15-608
§ 5-608. Interests attributable to individual filing statement
Currentness
Interests attributable
(a) The following are deemed to be interests of the individual under § 5-607(b), (c), (d), (j), and (k) of this subtitle:
(1) an interest held by a spouse or child of the individual, if the interest was controlled, directly or indirectly, by the individual at any time during the applicable period;
(2) an interest held, at any time during the applicable period, by:
(i) a business entity in which the individual held a 10% or greater interest;
(ii) a business entity described in item (i) of this item in which the business entity held a 25% or greater interest;
(iii) a business entity described in item (ii) of this item in which the business entity held a 50% or greater interest; and
(iv) a business entity in which the individual directly or indirectly, through an interest in one or a combination of other business entities, holds a 10% or greater interest; and
(3) an interest held by a trust or an estate in which, at any time during the applicable period, the individual:
(i) held a reversionary interest;
(ii) was a beneficiary; or
(iii) if a revocable trust, was a settlor.
Effect on other disclosure requirements
(b) Subsection (a)(2) of this section does not affect:
(1) the requirement under § 5-607(b) of this subtitle of disclosure of real estate interests held in the name of a partnership, limited liability partnership, or limited liability company in which the individual holds an interest; or
(2) the requirement under § 5-607(c) of this subtitle of disclosure of all partnerships, limited liability partnerships, or limited liability companies in which the individual holds an interest.
Blind trusts
(c) For the purposes of § 5-607 of this subtitle, interests held by a blind trust may not be considered to be interests of the person making the statement if the blind trust is approved by the Ethics Commission in accordance with regulations adopted under § 5-501(b) or § 5-502(c) of this title and is operated in compliance with those regulations.

Credits

Added by Acts 2014, c. 94, § 2, eff. Oct. 1, 2014. Amended by Acts 2021, c. 425, § 2, eff. Oct. 1, 2021.
MD Code, General Provisions, § 5-608, MD GEN PROVIS § 5-608
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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