In this section, “family farm” means an entity that: Is a domestic entity; 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 Owns only agriculturally or residentially assessed real property and personal property that is used for agricultural purposes; or Owns only personal property that is used for agricultural or agricultural marketing purposes; Is controlled, managed, and operated by: One individual who has an equity interest in the entity; or Two or more individuals who have an equity interest in the entity and who share its assets and earnings; Is declared in a charter provision to be a family farm; and Has no assets other than those described in item (2) of this subsection. 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.