Maryland Corporations and Associations Section 2-313

      (a)      The president or, if provided in the bylaws, some other executive officer of each corporation shall prepare annually a full and correct statement of the affairs of the corporation, to include a balance sheet and a financial statement of operations for the preceding fiscal year.

      (b)      Except as provided in subsection (c) of this section, the statement of affairs shall be submitted at the annual meeting of stockholders and, within 20 days after the meeting, placed on file at the corporation's principal office.

      (c)      If a corporation is not required to hold an annual meeting of stockholders under a charter or bylaw provision adopted in accordance with § 2-501 of this title, the statement of affairs shall be placed on file at the corporation's principal office within 120 days after the end of the fiscal year.