Ch. 550

LAWS OF MARYLAND

(2)  "Business trust" means an unincorporated trust or
association, including a Maryland real estate investment trust, a
common-law trust, or a Massachusetts trust, which is engaged in
business and in which property is acquired, held, managed,
administered, controlled, invested, or disposed of by trustees
for the benefit and profit of any person who may become a holder
of a transferable unit of beneficial interest in the trust.

(3)  "Foreign business trust" means a business trust
organized under the laws of the United States, another state of
the United States, or a territory, possession, or district of the
United States.

(4)  "Maryland real estate investment trust" means a
real estate investment trust in compliance with the provisions of
this title.

(5)  "DOMESTIC LIMITED PARTNERSHIP" MEANS A
PARTNERSHIP FORMED BY 2 OR MORE PERSONS UNDER THE LAWS OF THE
STATE AND HAVING ONE OR MORE GENERAL PARTNERS AND ONE OR MORE
LIMITED PARTNERS.

(6)  "FOREIGN LIMITED PARTNERSHIP" MEANS A PARTNERSHIP
FORMED UNDER THE LAWS OF ANY STATE OTHER THAN THE STATE OF
MARYLAND OR UNDER THE LAWS OF A FOREIGN COUNTRY AND HAVING AS
PARTNERS ONE OR MORE GENERAL PARTNERS AND ONE OR MORE LIMITED
PARTNERS.

(b)  Unless the declaration of trust provides otherwise, a
Maryland real estate investment trust may merge into a Maryland
or foreign business trust, [or] into a Maryland or foreign
corporation having capital stock, OR INTO A DOMESTIC OR FOREIGN
LIMITED PARTNERSHIP; or one or more such business trusts, [or]
such corporations, OR DOMESTIC OR FOREIGN LIMITED PARTNERSHIPS
may merge into it.

(c)  A merger shall be approved in the manner provided by
this section, except that:

(1)  A foreign business trust, a Maryland business
trust, other than a Maryland real estate investment trust, [or] a
corporation, OR A DOMESTIC OR FOREIGN LIMITED PARTNERSHIP party
to the merger shall have the merger advised, authorized, and
approved in the manner and by the vote required by its
declaration of trust, [or] charter, OR PARTNERSHIP AGREEMENT and
the laws of the place where it is organized; and

(2)  A merger need be approved by a Maryland real
estate investment trust successor only by a majority of its
entire board of trustees if:

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