MARVIN MANDEL, Governor
1905
in conjunction with references to "principal
office," even though the definition of that
term in §1—101 of this article makes the
phrase technically unnecessary.
The provisions relating to the consolidation
and merger of foreign corporations, presently
appearing in Art. 23, §§ 65 and 93A, now
appear in Title 3 of this article.
The provisions relating to foreign nonprofit
or cooperative corporations authorized to
supply electric energy, presently appearing in
Art. 23, §406, are proposed for
decodification; in this regard, see § 5—601
and revisor's note to that section.
TITLE 8. REAL ESTATE INVESTMENT TRUSTS.
SUBTITLE 1. DEFINITIONS; GENERAL PROVISIONS.
8-101. DEFINITIONS.
(A) IN GENERAL.
IN THIS TITLE THE FOLLOWING WORDS HAVE THE MEANINGS
INDICATED.
REVISOR'S NOTE: This subsection is the standard
introductory language used in a definition
section.
(B) REAL ESTATE INVESTMENT TRUST.
"REAL ESTATE INVESTMENT TRUST" MEANS AN
UNINCORPORATED TRUST OR ASSOCIATION [[WHICH COMPLIES OR
PURPORTS TO COMPLY WITH §§ 856 THROUGH 858 OF THE FEDERAL
INTERNAL REVENUE CODE, AND]] IN WHICH PROPERTY IS
ACQUIRED, HELD, MANAGED, ADMINISTERED, CONTROLLED,
INVESTED, OR DISPOSED OF BY TRUSTEES FOR THE BENEFIT AND
PROFIT OF ANY PERSON WHO MAY BECOME A SHAREHOLDER.
REVISOR'S NOTE: This subsection presently appears as
the first sentence of Art. 78C, §1 and the
first sentence of §2(a).
The phrase "which complies or purports to
comply with 6§ 856 through 858 of the Federal
Internal Revenue Code" is added to distinguish
it from other forms of trusts, such as those
listed in §8-103 of this subtitle, which would
otherwise meet the definition of this section.
These sections are presently contained in 26
U.S.C., §§ 856 et seq.
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