clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Session Laws, 1975
Volume 716, Page 1915   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

MARVIN MANDEL, Governor

1915

(B)   LIQUIDATION.

A REAL ESTATE INVESTMENT TRUST MAY CURTAIL OR CEASE
ITS TRUST ACTIVITIES BY PARTIALLY OR COMPLETELY
DISTRIBUTING ITS ASSETS.

(C)   INVOLUNTARY DISSOLUTION FOR ABUSE OF POWERS.

(1)    THE ATTORNEY GENERAL MAY INSTITUTE
PROCEEDINGS TO DISSOLVE A REAL ESTATE INVESTMENT TRUST
WHICH HAS ABUSED, MISUSED, OR FAILED TO USE ITS POSERS.
THE PROCEEDINGS SHALL BE BROUGHT IN THE MANNER AND ON THE
GROUNDS PROVIDED IN TITLE 3, SUBTITLE 5 OF THIS ARTICLE
WITH RESPECT TO DISSOLUTION OF A CORPORATION FOR MISUSE
OF ITS FRANCHISE.

(2)     THE VENUE OF AN ACTION UNDER THIS
SUBSECTION IS IN A COUNTY WHERE AN OFFICER OR RESIDENT
AGENT OF THE REAL ESTATE INVESTMENT TRUST IS LOCATED.

REVISOR'S NOTE: Subsections (a) and (b) of this
section are new language derived without
substantive change from Art. 78c, §3(9) and
the last sentence of Art. 78C, §2(d).

Subsection (c) of this section is new language
derived without substantive change from the
first two sentences of Art. 78C, §2(d). Since
the provisions in Title 3, Subtitle 5 are
substantively similar to those of present
§2(d), except for the venue provisions, it is
unnecessary to set them forth fully here. See
§3—514 of this article.

For the definition of "shares," see §8—101.

It should be noted that Title 1, Subtitle 4 of
this article contains a provision authorizing
the Attorney General to seek to enjoin an
unincorporated business from doing business on
grounds that it is connected with "organized
crime."

SUBTITLE 6. LIABILITIES AND SERVICE OF PROCESS.

8-601. LIABILITIES OF TRUST, SHAREHOLDERS, AND
TRUSTEES.

(A) LIABILITY OF TRUST.

THE LIABILITY OF A REAL ESTATE INVESTMENT TRUST
EXTENDS TO AS MUCH OF THE TRUST ESTATE, INCLUDING THE
WHOLE, AS NECESSARY TO DISCHARGE THE LIABILITY.

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1975
Volume 716, Page 1915   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  August 17, 2024
Maryland State Archives