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  1. #1
    Join Date
    Jun 2006
    Posts
    29

    Default What Does 'Forfeited By The State' Mean?

    It looks like what I want to know is what does having been forfeited by the State mean? Can they sue in Maryland since they aren't listed in SDAT? Not registering or letting a business lapse in a State has to have consequences, I would think.

    Thanks

  2. #2
    Join Date
    Mar 2005
    Location
    Michigan
    Posts
    28,906

    Default Re: What Does 'Forfeited By The State' Mean?

    Please provide some context for your question.

  3. #3
    Join Date
    Jun 2006
    Posts
    29

    Default Re: What Does 'Forfeited By The State' Mean?

    Oh, so very sorry, I thought it was one of those obvious things that aren't
    Forfeited
    For a Maryland entity, its existence has been ended by the State for some delinquency. For a non-Maryland entity it means its authority to do business and legal presence here has been terminated. For a trade name it means the filing has lapsed after 5 years and not been renewed.
    In Maryland when you form any business you must register with the State through SDAT. Companies use this search for credit and such. Banks use it together with an EIN number to open accounts. And if you have ever applied for business lines of credit they looked you up!
    http://sdatcert3.resiusa.org/UCC-Cha...rSearch_f.aspx

  4. #4
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: What Does 'Forfeited By The State' Mean?

    You just provided a definition. If a corporation is 'forfeited', "its authority to do business and legal presence here has been terminated". To sue as a corporate entity, it would need to be reinstated.

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