Ch. 550

LAWS OF MARYLAND

(I)  THE CHARTER RECORDS OR LIMITED PARTNERSHIP
RECORDS, IF IT RELATES TO THE LOCATION OF A PRINCIPAL OFFICE; AND

(II)  THE LAND RECORDS, IF IT RELATES TO AN
INTEREST IN LAND.

(H) (1) IN ORDER TO KEEP THE LAND ASSESSMENT RECORDS
CURRENT IN EACH COUNTY, THE DEPARTMENT SHALL REQUIRE A LIMITED
PARTNERSHIP, CORPORATION, OR BUSINESS TRUST TO SUBMIT WITH THE
ARTICLES OF MERGER A PROPERTY CERTIFICATE FOR EACH COUNTY WHERE A
MERGING LIMITED PARTNERSHIP, CORPORATION, OR BUSINESS TRUST OTHER
THAN THE SUCCESSOR OWNS AN INTEREST IN LAND.

(2)  A PROPERTY CERTIFICATE IS NOT REQUIRED WITH
RESPECT TO ANY PROPERTY IN WHICH THE ONLY INTEREST OWNED BY THE
MERGING LIMITED PARTNERSHIP, CORPORATION, OR BUSINESS TRUST IS A
SECURITY INTEREST.

(3)  THE PROPERTY CERTIFICATE SHALL BE IN THE FORM AND
NUMBER OF COPIES THAT THE DEPARTMENT REQUIRES REQUIRES AND MAY
INCLUDE THE CERTIFICATE OF THE DEPARTMENT REQUIRED BY SUBSECTION
(G) OF THIS SECTION.

(4)  (I) THE PROPERTY CERTIFICATE SHALL PROVIDE A DEED
REFERENCE OR OTHER DESCRIPTION SUFFICIENT TO IDENTIFY THE
PROPERTY.

(II) THE DEPARTMENT SHALL INDICATE ON THE
PROPERTY CERTIFICATE THE TIME THE ARTICLES OF MERGER ARE ACCEPTED
FOR RECORD AND SEND A COPY OF THE PROPERTY CERTIFICATE TO THE
CHIEF ASSESSOR OF THE COUNTY WHERE THE PROPERTY IS LOCATED.

(5)  A TRANSFER, VESTING, OR DEVOLUTION OF TITLE TO
THE PROPERTY IS NOT INVALIDATED OR OTHERWISE AFFECTED BY ANY
ERROR OR DEFECT IN THE PROPERTY CERTIFICATE, FAILURE TO FILE THE
PROPERTY CERTIFICATE, OR FAILURE BY THE DEPARTMENT TO ACT ON THE
PROPERTY CERTIFICATE.

(I) A MERGER IS EFFECTIVE AS OF THE LATER OF:

(1)  THE TIME THE DEPARTMENT ACCEPTS THE ARTICLES OF
MERGER FOR RECORD; OR

(2)  THE TIME ESTABLISHED UNDER THE ARTICLES OF
MERGER, NOT TO EXCEED 30 DAYS AFTER THE ARTICLES OF MERGER ARE
ACCEPTED FOR RECORD.

(J) (1) CONSUMMATION OF A MERGER HAS THE EFFECTS PROVIDED
IN THIS SUBSECTION.

(2) THE SEPARATE EXISTENCE OF EACH LIMITED
PARTNERSHIP, CORPORATION, OR BUSINESS TRUST PARTY TO THE
ARTICLES, EXCEPT THE SUCCESSOR, CEASES.

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