{"data":{"id":"us-md/md.-code-corporations-and-associations-1-209","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 1–209","heading":"","body":"(a) In this section, “family farm” means an entity that:\n(1) Is a domestic entity;\n(2) (i) 1. Owns, or within 1 year after filing articles of incorporation, articles of organization, or a certificate of partnership, will own or take control of property that qualifies for agricultural use assessment under § 8-209 of the Tax - Property Article; and\n2. Owns only agriculturally or residentially assessed real property and personal property that is used for agricultural purposes; or\n(ii) Owns only personal property that is used for agricultural or agricultural marketing purposes;\n(3) Is controlled, managed, and operated by:\n(i) One individual who has an equity interest in the entity; or\n(ii) Two or more individuals who have an equity interest in the entity and who share its assets and earnings;\n(4) Is declared in a charter provision to be a family farm; and\n(5) Has no assets other than those described in item (2) of this subsection.\n(b) Within 1 year after selling all of the property described in subsection (a)(2) of this section, an individual shall file a charter amendment stating that the entity is no longer a family farm.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=1-209","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"0383c650d1b076a0bd62d289272927f4c158404218e16be1c6051c8d7f43e8ca","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-1-208","next":"us-md/md.-code-corporations-and-associations-1-301"},"notice":"GroundRules: Original legal text. Not legal advice."}