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Maryland Code, State Finance and Procurement § 16-101

Current as of January 01, 2025 | Updated by Findlaw Staff

(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.

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Cite this article: FindLaw.com - Maryland Code, State Finance and Procurement § 16-101 - last updated January 01, 2025 | https://codes.findlaw.com/md/state-finance-and-procurement/md-code-state-fin-and-proc-sect-16-101/

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