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§ 11-301. “Beneficial ownership” defined

West's Annotated Code of MarylandBusiness Regulation

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 11. Horse Racing (Refs & Annos)
Subtitle 3. Licensing and Responsibilities of Licensees (Refs & Annos)
MD Code, Business Regulation, § 11-301
§ 11-301. “Beneficial ownership” defined
Currentness
In this subtitle, “beneficial ownership” includes:
(1) record ownership;
(2) stock or other ownership in an entity in a chain of parent and subsidiary or affiliated entities, any 1 of which participates in the capital or profits of a licensee, regardless of the percentage of ownership involved;
(3) an interest that entitles a person to benefits substantially equivalent to ownership by an agreement, relationship, or other arrangement even though the person is not an owner of record; and
(4) unless there are special circumstances, ownership of a security by a relative of an individual who lives in the home of the individual.

Credits

Added by Acts 1992, c. 4, § 2.
Formerly Art. 78B, § 13.
MD Code, Business Regulation, § 11-301, MD BUS REG § 11-301
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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