Section 5-1201 - Definitions. - Maryland Statutes

§ 5-1201. Definitions.
 

(a)  In general.- In this subtitle the following words have the meanings indicated. 
   
Special Revisor's Note.

Chapter 313, Acts of 2008, added this subsection. 

(b)  Fund.- "Fund" means the Maryland Not-For-Profit Development Center Program Fund established under § 5-1204 of this subtitle. 
   
Special Revisor's Note.

Chapter 313, Acts of 2008, added this subsection. 

(c)  Not-for-profit entity.- "Not-for-profit entity" means a corporation incorporated in the State, or otherwise qualified to do business in the State, that has been determined by the Internal Revenue Service to be exempt from taxation under § 501(c)(3), (4), or (6) of the Internal Revenue Code. 

(d)  Program.- "Program" means the Maryland Not-For-Profit Development Center Program established under § 5-1202 of this subtitle. 
   
Special Revisor's Note.

Chapter 313, Acts of 2008, added this subsection. 

(e)  Qualifying not-for-profit entity.- "Qualifying not-for-profit entity" means a not-for-profit entity: 

(1) that has annual revenues not greater than $750,000; 

(2) that has been in existence for not more than 10 years; and 

(3) whose principal purpose is providing health, education, environmental, agricultural, or social services through community-based programs. 
   
Special Revisor's Note.

Chapter 313, Acts of 2008, added this subsection. 
 

[2008, ch. 313; 2009, chs. 105, 106.]