MARVIN MANDEL, Governor                             1017

Approved May 4, 1976.

CHAPTER 385

(House Bill 521)

AN ACT concerning

County [[Recordation]] Transfer Tax - Corporation Property

[[Certificate]]

[[FOR the purpose of requiring a property certificate
submitted by a merging, consolidating, or transferor
corporation to clearly constitute a transfer or
conveyance so as to be subject to county recordation
tax and stamp provisions.

BY repealing and reenacting, with amendments,

Article — Corporations and Associations

Section 3-112(d)

Annotated Code of Maryland

(1975 Volume and 1975 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Section 3-112(d) of Article
Corporations and Associations, of the Annotated Code of
Maryland (1975 Volume and 1975 Supplement) be and it is
hereby repealed and reenacted, with amendments, to read
as follows:

Article - Corporations and Associations

3-112.

(d) (1) The property certificate shall:

(i) Provide a deed reference or other
description sufficient to identify the property; [and]

(ii) State the actual consideration
paid or to be paid for the property; AND

(III) ITSELF CONSTITUTE AND STATE THAT
IT CONSTITUTES A TRANSFER OR CONVEYANCE AND THUS
AUTHORIZE THE COUNTY OR BALTIMORE CITY TO IMPOSE AND
COLLECT THE RECORDATION TAX UNDER ARTICLE 81, SECTIONS
277(A) THROUGH (R) AND TO SELL A STAMP TO THE CORPORATION
FOR AFFIXATION TO THE CERTIFICATE UNDER ARTICLE 81,
SECTION 278.

(2) The Department shall indicate on the
certificate the time the articles are accepted for record
and send a copy of it to the chief assessor of the county