HARRY HUGHES, Governor

469

lease not required by law to be recorded", for
clarity.

In subsection (d) of this section, the phrase "a
transfer under § 13-206 of this title" is added for
clarity.

Also in subsection (d) of this section, the reference
to "date of finality immediately before the date of
transfer" is substituted for the former reference to
"at the last date of finality", for clarity.

The General Assembly may wish to consider conforming
subsection (a) of this section to § 12-105(c) of this
article. Both provisions concern the calculation of
tax for ground rents. Yet the former law for the 2
provisions and the revision based on the former law
differ. While, currently, the provisions are treated
the same by the clerks, the General Assembly might
have intended to distinguish between the 2 provisions.

Defined terms: "Assessment" § 1-101

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

"Includes";"including" § 1-101

"Real property" § 1-101 "Transfer tax" § 13-201

"Value" § 1-101

13-206. TAX ON CORPORATE AND PARTNERSHIP TRANSFERS.

EXCEPT AS PROVIDED IN § 13-207(A)(9) AND (10) OF THIS TITLE,
THE TRANSFER TAX APPLIES TO CONVEYANCES 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 State transfer tax.

In the introductory language of this section, the
defined term "transfer tax" is substituted for the
former references to "[t]he taxes imposed ... by §
278A ... of this article" and "[t]he taxes referred to
in subsection (a)", for clarity.

Also 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) of