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§ 12-609. Property certificates

West's Annotated Code of MarylandCorporations and AssociationsEffective: June 1, 2010

West's Annotated Code of Maryland
Corporations and Associations
Title 12. Statutory Trusts (Refs & Annos)
Subtitle 6. Merger or Consolidation
Effective: June 1, 2010
MD Code, Corporations and Associations, § 12-609
§ 12-609. Property certificates
Currentness
Land assessment records
(a) In order to keep the land assessment records current in each county, the Department shall require a statutory trust, corporation, partnership, limited partnership, or limited liability company to submit with the articles of merger or consolidation a property certificate for each county where a merging or consolidating statutory trust, corporation, partnership, limited partnership, or limited liability company other than the successor owns an interest in land.
Security interest
(b) A property certificate is not required with respect to any property in which the only interest owned by the merging or consolidating statutory trust, corporation, partnership, limited partnership, or limited liability company is a security interest.
Form
(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 subsection (a) of this section.
Deed reference
(d)(1) The property certificate shall provide a deed reference or other description sufficient to identify the property.
(2) The Department shall indicate on the certificate the time the articles of merger or consolidation are accepted for record and send a copy of it to the chief assessor of the county where the property is located.
Title
(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 by the Department to act on it.

Credits

Added by Acts 1999, c. 452, § 1, eff. Jan. 1, 2000. Amended by Acts 2010, c. 611, § 1, eff. June 1, 2010.
MD Code, Corporations and Associations, § 12-609, MD CORP & ASSNS § 12-609
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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