§ 10-509

Maryland § 10-509

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

Text

The Corporation may:

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

(2) adopt a seal;

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

(4) accept loans, grants, or financial and technical assistance in any form from the federal or State government, local governments, colleges or universities, or a private source;

(5) enter into contracts and other legal instruments;

(6) sue or be sued;

(7) acquire, purchase, hold, lease as a lessee, and use any franchise, patent, or license and real, personal, mixed, or tangible or intangible property, or any interest in property;

(8) own, improve, sell, lease as a lessor, transfer, license, assign, encumber, and dispose of any property or interest in property, necessary or convenient to carry out its purposes at public sale, with or without public bidding;

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

(10) retain any necessary accountants, engineers, financial advisors, and other consultants;

(11) with the approval of the Attorney General, retain any necessary lawyers;

(12) further define or limit the term “revenue” defined in § 10-501 of this subtitle as the term applies to a particular project, financing, or other matter;

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

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

(15) do anything necessary or convenient to carry out the powers granted by this subtitle.