Ch. 690                                    1996 LAWS OF MARYLAND

(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);

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

(15)   § 12-108(v) of this article (Mergers);

(16)   § 12-108(w) of this article (Consolidations); [or]

(17)   § 12-108(x) of this article (Cooperative housing corporations); OR

(18)    § 12-108(Y) OF THIS ARTICLE (TRANSFER FROM PARTNERSHIP TO
LIMITED LIABILITY COMPANY).

13-405.

(a)     Except as provided in subsection (c) of this section, county transfer tax applies
to conveyances that transfer the real property of a corporation to its stockholders, a
limited liability company to its members, or a partnership to its partners on:

(1)     liquidation;

(2)     dissolution; or

(3)     termination.

(b)     For a conveyance that is taxable under this section, county transfer tax applies
to the value of the real property determined by the Department at the date of finality
immediately before the date of transfer.

(c)     A corporate, limited liability company, or partnership transfer as described in
§ 12-108(p), (q), (v), [and] (w), AND (Y) of this article is not subject to the county
transfer tax.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1996.

Approved May 23, 1996.

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