Maryland § 8-110
Full text of Maryland Maryland Code § 8-110, with citation guidance and answers to common questions.
§ 8-110.
(a) (1) In this section the following words have the meanings indicated.
(2) “Fair average value” means the average of the fair value of stock in business for the number of months of a year in which the stock in business was in existence.
(3) “Fair value” means the lesser of the cost or the value of stock in business.
(4) “Stock in business”:
(i) means the inventory of a commercial or manufacturing business that is engaged in business in this State; and
(ii) does not include a used motor vehicle of a registered motor vehicle dealer if that vehicle is:
1. titled in this State; and
2. acquired by a dealer as partial payment of the purchase price of another motor vehicle.
(b) Stock in business shall be valued to the owner of the stock in business at its fair average value on the date of finality.
Frequently Asked Questions About Maryland § 8-110
What does Maryland Code § 8-110 cover?
Section 8-110 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 § 8-110?
A common citation format is "Maryland Code § 8-110" (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 § 8-110 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.