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Ch. 378 2005 LAWS OF MARYLAND
brokers. However, each shareholder in the corporation OR MEMBER OF THE LIMITED
LIABILITY COMPANY shall be either a licensed real estate salesperson or a licensed
associate real estate broker.
(c) A licensed real estate salesperson or a licensed associate real estate broker
who is a shareholder of a professional service corporation OR A MEMBER OF A LIMITED
LIABILITY COMPANY may direct that any commission due the salesperson or associate
broker be paid to the corporation OR LIMITED LIABILITY COMPANY.
17-604.
(b) This section does not prohibit the payment of compensation to:
(1) an individual:
(i) who is licensed in another state; and
(ii) who meets the requirements of § 17-513 of this title; [or]
(2) a professional service corporation formed under § 17-512 of this title;
OR
(3) A LIMITED LIABILITY COMPANY FORMED UNDER § 17-512.1 § 17-512
OF THIS TITLE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2005.
Approved May 10, 2005.
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CHAPTER 378
(House Bill 467)
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AN ACT concerning
Allegany County - Property Tax Credit - Allegany County Building Trades
Education Foundation, Inc.
FOR the purpose of requiring authorizing the governing body of Allegany County and
of a municipal corporation in Allegany County to grant a property tax credit
against the county and municipal corporation property tax imposed on property
owned by the Allegany County Building Trades Education Foundation, Inc.;
providing for the applicability application of this Act; and generally relating to
property tax credits in Allegany County.
BY repealing and reenacting, with amendments,
Article - Tax - Property
Section 9-302(a) 9-302(b)
Annotated Code of Maryland
(2001 Replacement Volume and 2004 Supplement)
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