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2023 Maryland Statutes
Corporations and Associations
Title 12 - Statutory Trusts
Subtitle 8 - Forfeiture
Section 12-809 - Violation; Penalty; Limitation
Universal Citation:
MD Corporations and Associations Code § 12-809 (2023)
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(a) Any person that transacts business in the name of, or for the account of, a statutory trust knowing that the statutory trust’s right to do business in the State has been forfeited and has not been reinstated at the time the business was transacted is guilty of a misdemeanor and on conviction is subject to a fine of not more than $500.
(b) A prosecution for a violation of subsection (a) of this section, concerning acts alleged to have occurred while the right of a statutory trust to do business in the State was forfeited, may not be instituted after the date that a certificate of reinstatement of the statutory trust is filed.
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