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Posts Tagged ‘LLC Act’

Forfeiture of a Charter: Additional Issues That Arise for LLC's

When the Maryland State Department of Assessments & Taxation (the “SDAT”) forfeits an entity’s charter, that entity can no longer transact business in Maryland. While losing the right to transact business creates problems for any type of entity, there are some additional issues specific to LLCs. For example, the Maryland General Corporation Law (the “Corporations…

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