2013 Maryland Code
BUSINESS REGULATION
§ 11-301 - "Beneficial ownership" defined
§11-301.
In this subtitle, “beneficial ownership” includes:
(1) record ownership;
(2) stock or other ownership in an entity in a chain of parent and subsidiary or affiliated entities, any 1 of which participates in the capital or profits of a licensee, regardless of the percentage of ownership involved;
(3) an interest that entitles a person to benefits substantially equivalent to ownership by an agreement, relationship, or other arrangement even though the person is not an owner of record; and
(4) unless there are special circumstances, ownership of a security by a relative of an individual who lives in the home of the individual.
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