Md. Code, State Fin. & Proc. § 16-101
Md. Code, State Fin. & Proc. § 16-101
Maryland · Maryland Code, State Finance and Procurement · Status: effective
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- Citation
- Md. Code, State Fin. & Proc. § 16-101, Maryland, version 1 as recorded 2026-09-29, yourstate.us, https://yourstate.us/provision/1787631
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Full text
(a) In this title the following words have the meanings indicated.
(b) “Business” means an individual or a corporation, partnership, sole proprietorship, joint venture, or other legal entity through which commercial activity is conducted.
(c) “Contract” means any agreement in any form.
(d) “Controlling stockholder” means a stockholder who:
(1) owns more than 25% of the voting stock of a corporation; or
(2) notwithstanding the number of shares that the stockholder owns, has the power to direct or control the direction of the management or policies of a corporation.
(e) “Convicted” includes an accepted plea of nolo contendere.
(f) “Public body” means:
(1) the State;
(2) a unit; or
(3) a local governmental entity in the State, including a bicounty or multicounty governmental entity.