Md. Code, Econ. Dev. § 10-115

Current with changes from the 2024 Legislative Session, chs. 2--407, effective on or before 7/1/2024

Section 10-115 - Powers - In general

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 government, a governmental unit, a college or university, or a private source;

(5) enter into contracts and other legal instruments;

(6) sue and be sued in its own name;

(7) acquire, purchase, hold, lease as lessee, and use any franchise, patent, or license and real, personal, mixed, tangible, or intangible property, or any interest in property, necessary or convenient to carry out its purposes;

(8) sell, lease as lessor, transfer, and dispose of its property or interest in property;

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

(10) with the owner's permission, enter lands, waters, or premises to make a survey, sounding, boring, or examination to accomplish a purpose authorized by this subtitle;

(11) further define or limit the term "revenues" defined in § 10-101 of this subtitle as the term applies to a particular project, financing, or other matter;

(12) create, own, control, or be a member of a corporation, limited liability company, partnership, or other person, whether for-profit or nonprofit;

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

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

Md. Code, EC § 10-115

Amended by 2017 Md. Laws, Ch. 631,Sec. 1, eff. 10/1/2017.

Amended by 2015 Md. Laws, Ch. 141,Sec. 2, eff. 10/1/2015.