Md. Code, Business Regulation § 11-301
Md. Code, Business Regulation § 11-301
in effectIn this subtitle, “beneficial ownership” includes:
(1) record ownership;
(2) stock or other ownership in an entity in a chain of parent and subsidiary or affiliated entities, any 1 of which participates in the capital or profits of a licensee, regardless of the percentage of ownership involved;
(3) an interest that entitles a person to benefits substantially equivalent to ownership by an agreement, relationship, or other arrangement even though the person is not an owner of record; and
(4) unless there are special circumstances, ownership of a security by a relative of an individual who lives in the home of the individual.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gbr§ion=11-301&enactments=falseFetched: 10/16/2026