1306

LAWS OF MARYLAND

Ch. 255

ESTATE INVESTMENT TRUST SHALL HAVE THE SAME RIGHTS AS AN
OBJECTING STOCKHOLDER OF A MARYLAND CORPORATION UNDER
SUBTITLE 2 OF TITLE 3 OF THIS ARTICLE AND UNDER THE SAME
PROCEDURES.

(J) (1) THE DEPARTMENT SHALL PREPARE CERTIFICATES
OF MERGER WHICH SPECIFY:

(I)    THE NAME OF EACH PARTY TO THE
ARTICLES;

(II)   THE NAME OF THE SUCCESSOR AND THE
LOCATION OF ITS PRINCIPAL OFFICE IN THIS STATE OR, IF IT HAS
NONE, ITS PRINCIPAL PLACE OF BUSINESS; AND

(III)  THE TIME THE ARTICLES ARE ACCEPTED
FOR RECORD BY THE DEPARTMENT.

(2)    IN ADDITION TO ANY OTHER PROVISION OF LAW
WITH RESPECT TO RECORDING, THE DEPARTMENT SHALL SEND ONE OF
THE CERTIFICATES TO THE CLERK OF THE COURT OF EACH COUNTY IN
THIS STATE, EXCEPT A COUNTY WHERE THE ARTICLES WILL BE
RECORDED, WHERE:

(I) THE PRINCIPAL OFFICE OF A MERGING
BUSINESS TRUST OR CORPORATION IS LOCATED; AND

(II) THE ARTICLES SHOW THAT A MERGING
BUSINESS TRUST OR CORPORATION OTHER THAN THE SUCCESSOR OWNS
AN INTEREST IN LAND.

(3)    ON RECEIPT OF THE CERTIFICATE, THE CLERK
PROMPTLY SHALL RECORD IT WITH:

(I)    THE CHARTER RECORDS, IF IT RELATES TO
THE LOCATION OF A PRINCIPAL OFFICE; AND

(II)   THE LAND RECORDS, IF IT RELATES TO AN
INTEREST IN LAND.

(K) (1) IN ORDER TO KEEP THE LAND ASSESSMENT
RECORDS CURRENT IN EACH COUNTY, THE DEPARTMENT SHALL REQUIRE
A BUSINESS TRUST OR CORPORATION TO SUBMIT WITH THE ARTICLES
A PROPERTY CERTIFICATE FOR EACH COUNTY WHERE A MERGING
BUSINESS TRUST OR CORPORATION OTHER THAN THE SUCCESSOR OWNS
AN INTEREST IN LAND.

(2)    A PROPERTY CERTIFICATE IS NOT REQUIRED WITH
RESPECT TO ANY PROPERTY IN WHICH THE ONLY INTEREST OWNED BY
THE MERGING BUSINESS TRUST OR CORPORATION IS A SECURITY
INTEREST.

(3)    THE PROPERTY CERTIFICATE SHALL BE IN THE
FORM AND NUMBER OF COPIES WHICH THE DEPARTMENT REQUIRES AND
MAY INCLUDE THE CERTIFICATE OF THE DEPARTMENT REQUIRED BY
SUBSECTION (J) OF THIS SECTION.

(4)     (I) THE PROPERTY CERTIFICATE SHALL
PROVIDE A DEED REFERENCE OR OTHER DESCRIPTION SUFFICIENT TO