1698                                       LAWS OF MARYLAND                                 Ch. 827

Approved May 24, 1973.

CHAPTER 827

(House Bill 1000)

AN ACT to add new Section 444A to Article 23 of the Annotated Code of
Maryland (1972 Interim Supplement), title "Corporations," subtitle "III
Particular Classes of Corporations " subheading "Professional Service
Corporation Act," to follow immediately after Section 444 thereof; to provide
that a foreign professional corporation or service corporation may qualify to do
business in Maryland under certain circumstances; providing certain powers to
the Department of Assessments and Taxation; and granting certain rights to
foreign professional corporations and service corporations which qualify to do
business in this State.

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 444A is hereby added to Article 23 of the
Annotated Code of Maryland (1972 interim Supplement), title "Corporations,"
subtitle "III Particular Classes of Corporations," subheading "Professional Service
Corporation Act," to follow immediately after Section 444 thereof; and to read as
follows:

444A.

(A)            A PROFESSIONAL CORPORATION OR A SERVICE
CORPORATION INCORPORATED UNDER THE PROFESSIONAL
SERVICE CORPORATION LAWS OF ANY OTHER STATE MAY
QUALIFY TO DO BUSINESS IN THIS STATE PROVIDING:

(1)      THAT ONLY SHAREHOLDERS LICENSED AND LEGALLY
QUALIFIED BY THE STATE OF MARYLAND MAY RENDER THE
PROFESSIONAL SERVICES IN THIS STATE; AND

(2)           THE PROFESSIONAL CORPORATION OR SERVICE
CORPORATION IS OTHERWISE QUALIFIED UNDER THE PROVISIONS
OF THIS SUBTITLE EXCEPT AS TO THE PROVISIONS OF THIS
SUBTITLE REQUIRING THAT ALL THE SHAREHOLDERS OF THE
CORPORATION BE LICENSED TO RENDER THE PROFESSIONAL
SERVICE WITHIN THIS STATE.

(B)        THE DEPARTMENT OF ASSESSMENTS AND TAXATION
[[MAY]] SHALL REQUIRE A FOREIGN PROFESSIONAL
CORPORATION OR SERVICE CORPORATION TO FILE WITH IT
INFORMATION, INCLUDING THE NAME AND ADDRESS OF A
RESIDENT AGENT, AND DOCUMENTS IT DECIDES TO BE RELEVANT
AND TO IMPOSE REASONABLE AND NECESSARY FEES FOR THE
COLLECTION AND RECORDATION OF THIS INFORMATION.

(C)    A PROFESSIONAL SERVICE CORPORATION ORGANIZED AND
INCORPORATED UNDER THE LAWS OF ANOTHER STATE WHICH IS
REGISTERED WITH THE STATE DEPARTMENT OF ASSESSMENTS
AND TAXATION IS ENTITLED TO ALL THE RIGHTS, PRIVILEGES
AND IMMUNITIES GUARANTEED TO A PROFESSIONAL SERVICE
CORPORATION ORGANIZED AND INCORPORATED UNDER THE
LAWS OF MARYLAND, IF THE STATE IN WHICH IT IS
INCORPORATED EXTENDS THESE RIGHTS, PRIVILEGES AND
IMMUNITIES TO_ PROFESSIONAL SERVICE CORPORATIONS
INCORPORATED IN MARYLAND.