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Session Laws, 1999
Volume 796, Page 2879   View pdf image
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8-501.1.

(a) (1) In this section the following words have the meanings indicated.

(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 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.

(7) "Domestic limited liability company" means a limited liability
company formed under the laws of the State.

(8) "Foreign limited liability company" means a limited liability company
formed under the laws of any state other than the State of Maryland or under the
laws of a foreign country.

(9) "Domestic partnership" or "partnership" means a partnership formed
under the laws of the State.

(10) "Foreign partnership" means a partnership formed under the laws of
any state, other than this State, or under the laws of a foreign country.

(b) Unless the declaration of trust provides otherwise, a Maryland real estate
investment trust may merge into a Maryland or foreign business trust, into a
Maryland or foreign corporation having capital stock, into a domestic or foreign
partnership, or into a domestic or foreign limited partnership or limited liability
company; or one or more such business trusts, such corporations, domestic or foreign
partnerships, domestic or foreign limited partnerships, or limited liability companies
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, a corporation, a domestic or foreign

 

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Session Laws, 1999
Volume 796, Page 2879   View pdf image
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