§ 6.5-101
Statutes in effect as of October 1, 2026.
Md. Code Ann., Bus. Reg. § 6.5-101 (2026)
Title 6.5. Protection of Charitable Assets
Subtitle 1
§ 6.5-101LinkCopy Citation
(a)
In this title the following words have the meanings indicated.
(b)
(1)
“Charitable asset” means property that is given, received, or held for a charitable purpose, including all interest in:
(i)
real property; or
(ii)
tangible or intangible personal property.
(2)
“Charitable asset” includes:
(i)
cash;
(ii)
remainder interests;
(iii)
conservation or preservation easements or restrictions; and
(iv)
charitable contributions.
(3)
“Charitable asset” does not include property acquired or held for a for–profit purpose.
(c)
“Charitable purpose” means the relief of poverty, the advancement of education or religion, the promotion of health, the promotion of a governmental purpose, or any other purpose whose achievement is beneficial to the community.