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Current as of January 01, 2025 | Updated by Findlaw Staff
(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.
Cite this article: FindLaw.com - Maryland Code, Corporations and Associations § 3-514 - last updated January 01, 2025 | https://codes.findlaw.com/md/corporations-and-associations/md-code-corp-and-assns-sect-3-514/
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