2013 Maryland Code
§ 3-514 - Prohibition against doing business after forfeiture

MD Corp & Assn Code § 3-514 (2013) What's This?


(a) Any person who transacts business in the name or for the account of a corporation knowing that its charter has been forfeited and has not been revived is guilty of a misdemeanor and on conviction is subject to a fine of not more than $500.

(b) For the purpose of this section, unless there is clear evidence to the contrary, a person who was an officer or director of a corporation at the time its charter was forfeited is presumed to know of the forfeiture.

(c) A prosecution for violation of the provisions of this section may not be instituted after the date articles of revival of the corporation are filed.

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