(a) Real property and business entity interests. The following are deemed to be interests of the individual under § 7-6-104(b), (c), and (d):
(1) an interest held by a spouse or a child of the individual, if the interest was controlled, directly or indirectly, by the individual at any time during the applicable period;
(2) an interest held at any time during the applicable period by:
(i) a business entity in which the individual held a 10% or greater interest;
(ii) a business entity described in paragraph (i) in which the business entity held a 25% or greater interest;
(iii) a business entity described in paragraph (ii) in which the business entity held a 50% or greater interest; and
(iv) a business entity in which the individual directly or indirectly, through an interest in one or a combination of other business entities, holds a 10% or greater interest; and
(3) an interest held by a trust or an estate in which, at any time during the applicable period, the individual held a reversionary interest, was a beneficiary, or was a settlor of a revocable trust.
(b) Limitation. Subsection (a)(2) does not affect:
(1) the requirement under § 7-6-104(b) of disclosure of real estate interests held in the name of a partnership or limited liability entity in which the individual holds an interest; and
(2) the requirement under § 7-6-104(c) of disclosure of all partnerships, limited liability partnerships, or limited liability companies in which the employee holds an interest.
(1985 Code, Art. 9, § 6-105) (Bill No. 95-94; Bill No. 38-03; Bill No. 80-18; Bill No. 16-23)
State Code reference – General Provisions Article, § 5-608.