3408

LAWS OF MARYLAND

Ch. 840

(1)  any ownership interest of 5% or more in a
business;

(2)  any ownership interest   of 5% or more in 1 or more
[other] entities in a chain of parent and subsidiary entities,
any 1 of which participates in at least 5% of the capital or
profits of a business; or

(3)  possession of an interest that exists under an
agreement, contract, relationship, understanding, or other
arrangement and entitles a person to benefits substantially
equivalent to an ownership interest of 5% or more of a business.

(b) In this [subtitle] PART IX, unless there are special
circumstances, an individual is deemed to hold an ownership
interest that is held by the individual's spouse, the
individual's child, or other relative of the individual who lives
in the individual's home.

[21-202.] 11-214. Required disclosure.

(a)  (1) If, during a calendar year, a business enters into
contracts, leases, or other agreements with the State or its
units or both, under which the business is to receive from the
State or its units or both a total of $100,000 or more, the
business shall file with the Secretary of State a list that
contains the name and address of:

(i) any resident agent of the business;

(ii) each officer of the business; and

(iii) IF KNOWN, each person who has beneficial
ownership of the business.

(2) The list shall be filed within 30 days of the
date when the total value of the contracts, leases, or other
agreements entered into during the calendar year reaches
$100,000.

(b)  If a person who has beneficial ownership is unknown to
the business, it is sufficient for the business to disclose the
legal ownership or the identity of the nominee who holds title
for the unknown person.

[21-203.] 11-215. Penalties.

A business or an officer of a business who violates any
provision of this [subtitle] PART IX is guilty of a misdemeanor
and on conviction is subject to a fine not exceeding $10,000.

TITLE 12. PROCUREMENT PROVISIONS APPLICABLE TO THE STATE AND
LOCAL SUBDIVISIONS OF THE STATE.

SUBTITLE 1. DEBARMENT OF CONTRACTORS FOR BRIBERY.