§ 10-408

Maryland § 10-408

• Jurisdiction: Maryland
• Article gec: Economic Development
• Title: 10

Text

(a) The Corporation shall adopt regulations establishing:

(1) the investment committee;

(2) the responsibilities of the investment committee; and

(3) the procedures for the appointment of investment committee members.

(b) The Corporation may:

(1) adopt bylaws for the conduct of its business;

(2) adopt a seal;

(3) maintain offices at a place it designates in the State;

(4) accept loans, grants, or assistance of any kind from the federal or State government, a local government, a college or university, or a private source;

(5) enter into contracts and other legal instruments;

(6) sue or be sued;

(7) acquire, purchase, hold, lease as lessee, and use:

(i) a franchise, patent, or license;

(ii) any real, personal, mixed, tangible, or intangible property; or

(iii) an interest in the property listed in this item;

(8) sell, lease as lessor, transfer, license, assign, or dispose of property or a property interest that it acquires;

(9) fix and collect rates, rentals, fees, royalties, and charges for services and resources it provides or makes available;

(10) create, own, control, or be a member of a corporation, limited liability company, partnership, or other entity, whether operated for profit or not for profit;

(11) subject to a written agreement, provide administrative support and services to an entity described under item (10) of this subsection and receive compensation for providing the support and services;

(12) exercise power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and

(13) do all things necessary or convenient to carry out the powers granted by this subtitle.