§ 8-701. General rule.

   (a) "Other entity" defined. -- In this subtitle, "other entity" means:

   (1) A Maryland corporation incorporated under Title 2 of this article;

   (2) A foreign corporation, as defined in § 1-101 of this article;

   (3) A domestic limited liability company, as defined in § 4A-101 of this article;

   (4) A foreign limited liability company, as defined in § 4A-101 of this article;

   (5) A partnership, as defined in § 9A-101 of this article;

   (6) A limited partnership, as defined in § 10-101 of this article, including a limited partnership registered as a limited liability limited partnership under § 10-805 of this article;

   (7) A foreign limited partnership, as defined in § 10-101 of this article;

   (8) A business trust, as defined in § 1-101 of this article, excluding a real estate investment trust; or

   (9) Another form of unincorporated business formed under the laws of this State or the laws of the United States, another state of the United States, a territory, possession or district of the United States, or a foreign country.

(b) Real estate investment trust to other entity. -- Unless the declaration of trust provides otherwise, a real estate investment trust may convert to an other entity by:

   (1) Approving the conversion in accordance with § 8-702 of this subtitle; and

   (2) Filing for record with the Department articles of conversion executed in the manner required by Title 1 of this article.

(c) Other entity to real estate investment trust. -- An other entity may convert to a real estate investment trust by complying with § 8-702 of this subtitle and filing for record with the Department:

   (1) Articles of conversion executed in the manner required by Title 1 of this article; and

   (2) A declaration of trust, which shall include the name of the converting other entity, executed in the manner required by Title 1 of this article and otherwise complying with this title.

HISTORY: 2013, ch. 527, § 1, 2; ch. 528, § 1, 2.