Section 15-303 - License for partnership or corporation. - Maryland Statutes

§ 15-303. License for partnership or corporation.
 

(a)  General rule.- A license may not be issued to a partnership or corporation as such. 

(b)  Individuals required to apply.-  

(1) If an application for a license is made for a corporation, the license shall be applied for by and issued to three officers of the corporation who are authorized to act for it or, if it is a close corporation, at least one officer authorized to act for the close corporation. 

(2) If an application is made for a partnership, the license shall be applied for and issued to all of the partners who are authorized to act for the partnership. However, as to any such partner that is a corporation, the application for the corporate partner shall be made by and issued to three officers of the corporate partner who are authorized to act for it or, if it is a close corporation, at least one officer authorized to act for the close corporation. 

(c)  Assumption of responsibilities.- Each individual who applies for a license under this section assumes, as an individual, all responsibilities of the dealership and, as an individual, is subject to all conditions, restrictions, and penalties imposed on licensed dealers by the Maryland Vehicle Law. 
 

[An. Code 1957, art. 661/2, § 5-103.1; 1977, ch. 14, § 2; ch. 492.]