1904

LAWS OF MARYLAND

[Ch. 311

ORGANIZED OR IS EXISTING, IF KNOWN TO THE DEPARTMENT.

(D) EFFECT OF FORFEITURE.

ON FORFEITURE OF ITS RIGHT TO DO INTRASTATE BUSINESS
IN THIS STATE, THE FOREIGN CORPORATION IS SUBJECT TO THE
SAME RULES, LEGAL PROVISIONS, AND SANCTIONS AS IF IT HAD
NEVER QUALIFIED OR BEEN LICENSED TO DO BUSINESS IN THIS
STATE.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 81, §253.

Although the majority of law dealing with
required reports will appear in the Revenue
and Taxation Article, this section is
peculiarly related to the provision governing
qualification to do intrastate business in the
State.

The Commission notes that unlike its
counterpart for Maryland corporations, now
contained in §3—503 of this article, no
provision is made for a forfeiture in the
event of nonpayment of taxes. Also, there are
no coaparable provisions relating to the
forfeiture of registration to do interstate or
foreign business on failure to file required
reports.

7-305. FAILURE TO COMPLY WITH SUBTITLE 2 DOES NOT
AFFECT CONTRACTS.

THE FAILURE OF ANY FOREIGN CORPORATION TO COMPLY
WITH ANY OF THE REQUIREMENTS OF SUBTITLE 2 OF THIS TITLE
DOES NOT AFFECT THE VALIDITY OF ANY CONTRACT TO WHICH THE
CORPORATION IS A PARTY.

REVISOR'S NOTE: This section presently appears as
Art. 23, §91(a).

The only changes are in style.

GENERAL REVISOR'S NOTE:

The term "foreign corporation," as used
throughout this title, is defined in §1-101 of
this article.

Although general revision style is to refer to
Maryland as "the State," in this title, to
avoid unnecessary ambiguity, the term "this
State" is retained. Similarly, for emphasis,
the phrase "in this State" has been retained