HARRY HUGHES, Governor

1929

EXISTING CORPORATIONS TO FORM A MARYLAND SUCCESSOR CORPORATION IS
THE FEE COMPUTED ON THE AGGREGATE PAR VALUE OF CAPITAL STOCK OF
THE SUCCESSOR CORPORATION LESS THE FEE COMPUTED ON THE COMBINED
AGGREGATE PAR VALUE OF CAPITAL STOCK OF THE CONSOLIDATING
CORPORATIONS.

(2) IF THERE IS AN INCREASE IN THE AGGREGATE PAR
VALUE AS COMPUTED UNDER PARAGRAPH (1) OF THIS SUBSECTION, THE
MINIMUM ORGANIZATION AND CAPITALIZATION FEE DUE ON A
CONSOLIDATION IS $20.

(F)  (1) EXCEPT AS OTHERWISE PROVIDED IN THIS SUBSECTION,
THE ORGANIZATION AND CAPITALIZATION FEE FOR THE MERGER OF
EXISTING CORPORATIONS IS THE FEE COMPUTED ON THE AGGREGATE PAR
VALUE OF CAPITAL STOCK OF THE SUCCESSOR CORPORATION LESS THE FEE
COMPUTED ON THE COMBINED AGGREGATE PAR VALUE OF CAPITAL STOCK OF
THE MERGING CORPORATIONS.

(2) IF THERE IS AN INCREASE IN THE AGGREGATE PAR
VALUE AS COMPUTED UNDER PARAGRAPH (1) OF THIS SUBSECTION, THE
MINIMUM ORGANIZATION AND CAPITALIZATION FEE DUE ON A MERGER IS
$20.

(G)  THE ORGANIZATION AND CAPITALIZATION FEE REQUIRED BY
THIS SECTION SHALL BE PAID TO THE DEPARTMENT BEFORE THE
DEPARTMENT MAY ACCEPT FOR RECORD ANY CHARTER DOCUMENT THAT
REQUIRES AN ORGANIZATION AND CAPITALIZATION FEE.

(H) THE DEPARTMENT SHALL GIVE THE COMPTROLLER A MONTHLY
ACCOUNT OF THE ORGANIZATION AND CAPITALIZATION FEES THAT THE
DEPARTMENT RECEIVES.

(I) THE DEPARTMENT SHALL PAY ANY ORGANIZATION AND
CAPITALIZATION FEES COLLECTED UNDER THIS TITLE INTO THE GENERAL
FUND OF THIS STATE.

SECTION 6. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1985.

Approved May 21, 1985.

CHAPTER 214

(Senate Bill 576)

AN ACT concerning

Baltimore County - Property Tax - Credit

FOR the purpose of providing a mandatory credit against State
property tax and authorizing the County Council of Baltimore