446

LAWS OF MARYLAND

Ch. 8

incurred from time to time" and the "debtor's
responsibility", respectively, for brevity and
consistency.

In subsection (g) of this section, the phrase "a
transfer under § 12-106 of this title" is added for
clarity.

12-106.

Also in subsection (g) of this section, the phrase

"date of finality immediately before the date of

transfer" is substituted for the former phrase "last
date of finality", for clarity.

The General Assembly may wish to consider expanding
the scope of subsection (a) of this section to include
financing statements. Since collateral in this State
may subject the entire amount of a financing statement
to recordation tax, businesses sometimes structure
their financing statements to avoid this State.
Consequently, this State may be losing potential
revenue. As to the current interpretation of the
scope of subsection (a) of this section see 41 Op.
Att'y Gen. 381 (1956).

Defined terms: "Assessment" § 1-101

"Date of finality" § 1-101 "Department" § 1-101

"Includes";"including" § 1-101

"Instrument of writing" § 12-101 "Property" § 1-101

"Real property" § 1-101 "Recordation tax" § 12-101

TAX ON CORPORATE AND PARTNERSHIP TRANSFERS.

EXCEPT AS PROVIDED IN § 12-108(P) AND (Q) OF THIS TITLE, THE
RECORDATION TAX APPLIES TO CONVEYANCES INSTRUMENTS OF WRITING
THAT TRANSFER THE REAL PROPERTY OF A CORPORATION TO ITS
STOCKHOLDERS OR THE REAL PROPERTY OF A PARTNERSHIP TO ITS
PARTNERS ON: .

(1) LIQUIDATION;

(2) DISSOLUTION; OR

(3) TERMINATION.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 81, §
277B(a) through (c), as those subsections related to
the recordation tax.

In the introductory language of this section, the word

"stockholders" is substituted for the former word

"shareholders", for clarity. As to the use of

"stockholder" as a defined term see, CA § l-101(t).

The balance of former Art. 81, § 277B(a) through (c)