§ 19-224. Report of certain business transactions
West's Annotated Code of MarylandHealth--General
MD Code, Health - General, § 19-224
§ 19-224. Report of certain business transactions
Application of section
(a) This section applies to each person that is concurrently:
(1) A trustee, director, or officer of any nonprofit facility in this State; and
(2) An employee, partner, director, officer, or beneficial owner of 3 percent or more of the capital account or stock of:
(i) A partnership;
(ii) A firm;
(iii) A corporation; or
(iv) Any other business entity.
Reporting requirements
(b) Each person specified in subsection (a) of this section shall file with the Commission an annual report that discloses, in detail, each business transaction between any business entity specified in subsection (a)(2) of this section and any facility that the person serves as specified in subsection (a)(1) of this section, if any of the following is $10,000 or more a year:
(1) The actual or imputed value or worth to the business entity of any transaction between it and the facility; or
(2) The amount of the contract price, consideration, or other advances by the facility as part of the transaction.
Report signed and verified
(c) A report under this section shall be:
(1) Signed and verified; and
(2) Filed in accordance with the procedures and on the form that the Commission requires.
Failure to report
(d) A person that willfully fails to file any report required by this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $500.
Credits
Added as Health-General § 19-220 by Acts 1982, c. 21, § 2. Renumbered as Health-General § 19-224 and amended by Acts 1999, c. 702, § 2, eff. Oct. 1, 1999.
Formerly Art. 43, § 568Y.
MD Code, Health - General, § 19-224, MD HEALTH GEN § 19-224
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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