Business Status Forfeited In Fulton
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“Forfeited” means the right of the entity to conduct business in the State of Maryland has been relinquished and it has no right to use its name. For domestic corporations, this also means that the business has no existence under the laws of the State of Maryland.
Section 16-11-106 - Possession of firearm or knife during commission of or attempt to commit certain crimes. This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.
This rule: '… means the rule of public policy which in certain circumstances precludes a person who has unlawfully killed another from acquiring a benefit in consequence of the killing. '
(a) The judge shall, at the end of the court day, upon the failure of the principal to appear, forfeit the bond, issue a bench warrant for the principal's arrest, and order an execution hearing not sooner than 120 days but not later than 150 days after such failure to appear.
To start forfeiture proceedings the freeholder must inform the leaseholder that a breach of the terms of the lease has been committed and that the leaseholder has the opportunity to resolve the said breach. If the breach is not resolved, the freeholder can start court proceedings to recover possession.
So, you've got a forfeited LLC. Under Maryland law, your entity does not legally exist. That is, until you get sued. Many LLC members do not realize that they can be forced to defend a lawsuit against the LLC even after forfeiture.
Forfeiture is the process that allows the Department to remove inactive entities that have not legally terminated their authority to do business in Maryland or to notify active entities of an existing oversight in meeting legal filing requirements.
In order to maintain Good Standing status, it is important that you file required annual reports and maintain compliance with any applicable Maryland laws. Failing to do so means your entity may be “Not in Good Standing,” which eventually leads to forfeiture.
