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§ 3-112. Requirement of certificate by Department

West's Annotated Code of MarylandCorporations and AssociationsEffective: October 1, 2018

West's Annotated Code of Maryland
Corporations and Associations
Title 3. Corporations in General--Extraordinary Actions (Refs & Annos)
Subtitle 1. Consolidation, Merger, and Transfer of Assets
Effective: October 1, 2018
MD Code, Corporations and Associations, § 3-112
§ 3-112. Requirement of certificate by Department
Currentness
Department may require certificate
(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.
When certificate not required
(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.
Form and number of copies
(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.
Contents of certificate
(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.
Effect of defect
(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.

Credits

Added by Acts 1975, c. 311, § 2, eff. July 1, 1975. Amended by Acts 1975, c. 268, § 1; Acts 1978, c. 255; Acts 1988, c. 550; Acts 1992, c. 536; Acts 1997, c. 654, § 2, eff. July 1, 1998; Acts 1998, c. 20, § 2, eff. July 1, 1998; Acts 2018, c. 720, § 1, eff. Oct. 1, 2018.
Formerly Art. 23, § 66.
MD Code, Corporations and Associations, § 3-112, MD CORP & ASSNS § 3-112
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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