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Section 3-514 - Prohibition Against Doing Business After Forfeiture — Maryland Law | CourtGPT
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  6. Subtitle 5 - Extension, Forfeiture, and Revival of Charter/
  7. Section 3-514 - Prohibition Against Doing Business After Forfeiture
Maryland Legal Code

Section 3-514 - Prohibition Against Doing Business After Forfeiture

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(a) Any person who transacts business in the name or for the account of a corporation knowing that its charter has been forfeited and has not been revived is guilty of a misdemeanor and on conviction is subject to a fine of not more than $500. (b) For the purpose of this section, unless there is clear evidence to the contrary, a person who was an officer or director of a corporation at the time its charter was forfeited is presumed to know of the forfeiture. (c) A prosecution for violation of the provisions of this section may not be instituted after the date articles of revival of the corporation are filed.