Maryland § 8-402
Full text of Maryland Maryland Code § 8-402, with citation guidance and answers to common questions.
§ 8-402.
(a) In this subtitle the following terms have the meanings indicated.
(b) “Capital equipment” means any item of equipment that, by generally accepted accounting principles, is capitalized for purposes of accounting.
(c) (1) “Capital lease” means any lease, conditional sale, installment sale, or similar agreement, defined as a capital lease in accordance with generally accepted accounting principles, that is used to finance:
(i) the acquisition or construction of improvements to real property, under § 3-602 of this article; or
(ii) the acquisition of capital equipment.
(2) “Capital lease” includes a master lease.
Frequently Asked Questions About Maryland § 8-402
What does Maryland Code § 8-402 cover?
Section 8-402 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 § 8-402?
A common citation format is "Maryland Code § 8-402" (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 § 8-402 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.