Maryland § 19-224
Full text of Maryland Maryland Code § 19-224, with citation guidance and answers to common questions.
§ 19-224.
(a) This section applies to each person that is concurrently:
(1) A trustee, director, or officer of any nonprofit facility in this State; and
(2) An employee, partner, director, officer, or beneficial owner of 3 percent or more of the capital account or stock of:
(i) A partnership;
(ii) A firm;
(iii) A corporation; or
(iv) Any other business entity.
(b) Each person specified in subsection (a) of this section shall file with the Commission an annual report that discloses, in detail, each business transaction between any business entity specified in subsection (a)(2) of this section and any facility that the person serves as specified in subsection (a)(1) of this section, if any of the following is $10,000 or more a year:
(1) The actual or imputed value or worth to the business entity of any transaction between it and the facility; or
(2) The amount of the contract price, consideration, or other advances by the facility as part of the transaction.
(c) A report under this section shall be:
(1) Signed and verified; and
(2) Filed in accordance with the procedures and on the form that the Commission requires.
(d) A person that willfully fails to file any report required by this section is guilty of a misdemeanor and on conviction is subject to a fine not exceeding $500.
Frequently Asked Questions About Maryland § 19-224
What does Maryland Code § 19-224 cover?
Section 19-224 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 19-224?
A common citation format is "Maryland Code § 19-224" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 19-224 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.