ROBERT L. EHRLICH, JR., Governor                             Ch. 298

(I)      THE APPROVAL OR DISAPPROVAL OF AMENDMENTS TO THE
OPERATING AGREEMENT;

(II)     THE TERMINATION AND WINDING UP OF THE LIMITED
LIABILITY COMPANY;

(III)   THE SALE, EXCHANGE, LEASE, MORTGAGE, PLEDGE, OR OTHER
TRANSFER OF A MATERIAL PORTION OF THE ASSETS OF THE LIMITED LIABILITY
COMPANY;

(IV)    THE INCURRING OF INDEBTEDNESS BY THE LIMITED LIABILITY
COMPANY OTHER THAN IN THE ORDINARY COURSE OF ITS BUSINESS;

(V)     A CHANGE IN THE NATURE OF THE BUSINESS OF THE LIMITED
LIABILITY COMPANY;

(VI)    THE EXPULSION OR ADMISSION OF A MEMBER;

(VII)  THE APPOINTMENT OR DISCHARGE OF A MANAGER;

(VIII) THE MERGER OF THE LIMITED LIABILITY COMPANY WITH OR
INTO ANY OTHER ENTITY; OR

(DC) ANY MATTER RELATED TO THE BUSINESS OF THE LIMITED
LIABILITY COMPANY NOT OTHERWISE ENUMERATED IN THIS SUBSECTION THAT THE
OPERATING AGREEMENT STATES MAY BE SUBJECT TO THE APPROVAL OR
DISAPPROVAL OF THE MEMBERS.

(I) THE POSSESSION OR EXERCISE OF POWERS OTHER THAN THOSE
CONTAINED IN SUBSECTION (H) OF THIS SECTION BY A MEMBER DOES NOT
NECESSARILY CONSTITUTE MANAGEMENT BY THE MEMBER OF THE BUSINESS OR
AFFAIRS OF THE LIMITED LIABILITY COMPANY.

(J) THE SAME RULES AND EXCEPTIONS APPLICABLE TO A MEMBER OF A
LIMITED LIABILITY COMPANY SET FORTH IN SUBSECTIONS (H) AND (I) SHALL BE
APPLICABLE TO INDIVIDUALS AND MEMBERS OF LIMITED LIABILITY PARTNERSHIPS.

[(3)] (K) Notwithstanding any other provision of law, the Department
may not collect or enforce any liability for the Maryland use tax that was incurred
before July 1, 1986 on a vessel owned by a person who at the time the liability was
incurred:

[(i) 1.] (1) (I) Was licensed by the Department to catch, for
commercial purposes, finfish, eels, crabs, conch, terrapin, soft-shell clams, hard-shell
clams, oysters, or any other fish; and

[2.] (II) Used the vessel for any of the commercial fishing
purposes described in [item (i)1] ITEM (1)(I) of this paragraph; or

[(ii) 1.] (2) (I) Was licensed as a commercial fishing guide
under the provisions of § 4-210 of this article; and

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