and closely supervised field work where the theories are given practical application.

The Department conducts an annual school for the assessors, supplemental to their
continuing education responsibilities, where emphasis is placed on assessment proce-
dures and techniques in combination with the study of current situations. The curricu-
lum is based in large part on a plan provided by the International Association of Assessing
Officers.

CORPORATE CHARTERING

This group acts as a general corporation agency; and as such approves and records
articles of incorporation, amendments, articles of merger or consolidation, articles of
transfer, dissolutions, revivals, and designations of resident agents. The charter of cor-
porations of all types, including nonstock, must be approved by this group. At the time
a charter is filed, a bonus tax is collected on all new corporations and on all those in-
creasing their capital stock. Recordation and transfer taxes are also collected in certain
instances where real property is transferred by articles of transfer.

The Corporate Chartering group also handles the registrations and qualifications of
foreign corporations. Applications to register or qualify must be approved by the Depart-
ment and appropriate fees are collected. The authority of foreign corporations to do busi-
ness in Maryland is cancelled when a corporation fails to file reports or pay late filing
penalties.

Beginning July 1, 1982, Corporate Chartering also assumed responsibilities for the
formation of domestic limited partnerships and the registration of foreign limited part-
nerships. Certificates of limited partnership, amendments, cancellations, and applications
for registration are now filed with Corporate Chartering and are approved and processed
in a manner similar to that of domestic and foreign corporations. Maryland limited part-
nerships formed prior to July 1, 1982, must file a certificate of limited partnership with
Corporate Chartering.

Fees Charged

For each document received, recording fees established by law are collected, and ap-
propriate charges are made for certified copies of all such documents. After recording,
copies of charters and certificates of limited partnership are forwarded to the Clerks of
the Courts in the proper jurisdictions. Also received, approved, recorded, and indexed
are financing statements filed under ihe Uniform Commercial Code where business per-
sonal property is involved and where the debtor has one or more places of business in
Maryland. Files of statements are maintained for public inspection, and filing fees are
collected.

A master file is maintained containing records of all corporations and limited part-
nerships, domestic and foreign, and listing resident agents and showing forfeitures, dis-
solutions, mergers, and similar changes. Copies of all domestic charters are on file dating
from the formation of the State Tax Commission.

PERSONAL PROPERTY ASSESSMENT

This section administers the assessment of tangible personal property owned by busi-
nesses and located in the State. Property owned by corporations is assessed in the Cen-
tral Office while that of unincorporated businesses is assessed by the local assessment