2572

LAWS OF MARYLAND

Ch. 686

(8)  § 12-108(o) of this article (Participation
agreement);

(9)  § 12-108(p) of this article (Transfer of
corporate property between related corporations);

(10)  § 12-108(q) of this article (Corporate or
partnership conveyance);

(11)  § 12-108(r) of this article (Land installment
contracts);

(12)  § 12-108(s) of this article (Options to purchase
real property);

(13)  § 12-108(t) of this article (Deed for prior
contract of sale); [or]

(14)  § 12-108(u) of this article (Leases of 7 years
or less);

(15)  § 12-108(V) OF THIS ARTICLE (MERGERS); OR

(16)  § 12-108(W) OF THIS ARTICLE (CONSOLIDATIONS).

13-404.

(a)  Except as provided under subsection (b) of this
section, the Department shall collect county transfer tax at the
rate set by each county for articles of transfer, ARTICLES OF
CONSOLIDATION, OR ARTICLES OF MERGER filed with the Department as
required by § 3-107 of the Corporations and Associations Article,
OR OTHER DOCUMENT FILED WITH THE CLERK OF THE CIRCUIT COURT OF A
COUNTY OR THE DEPARTMENT WHICH EVIDENCES A MERGER OR
CONSOLIDATION OF FOREIGN CORPORATIONS.

(b)  (1) Articles of transfer are not subject to county
transfer tax if the articles of transfer are for:

[(1)] (I) a transfer of real property between a
parent corporation and its subsidiary corporation or between 2 or
more subsidiary corporations wholly owned by the same parent
corporation IF THE PARENT CORPORATION IS AN ORIGINAL STOCKHOLDER
OF THE SUBSIDIARY OR SUBSIDIARIES, OR BECAME A STOCKHOLDER
THROUGH GIFT OR BEQUEST FROM AN ORIGINAL STOCKHOLDER OF THE
CORPORATION FOR:

[(i)] 1. no consideration;

[(ii)] 2. nominal consideration; or

[(iii)] 3. consideration that comprises only
the issuance, cancellation, or surrender of a subsidiary's stock;
or