§ 12-912. Forfeiture of right to do business in State
West's Annotated Code of MarylandCorporations and AssociationsEffective: June 1, 2010
Effective: June 1, 2010
MD Code, Corporations and Associations, § 12-912
§ 12-912. Forfeiture of right to do business in State
(a) The Department may forfeit the right of a foreign statutory trust to do business in the State if the foreign statutory trust fails to file with the Department any report or fails to pay any late filing penalty required by law:
(b) Unless the Department excuses a reasonable delay for good cause shown, the forfeiture is effective 15 days after written notice of forfeiture from the Department without legal proceedings of any kind.
(c) The demand for a delinquent report or late filing penalty and the notice of forfeiture shall be addressed to the foreign statutory trust:
Credits
Added by Acts 2010, c. 611, § 1, eff. June 1, 2010.
MD Code, Corporations and Associations, § 12-912, MD CORP & ASSNS § 12-912
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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