Section 5-512 - Powers and duties(a) The Authority exercises its powers and performs its duties subject to the authority of the Secretary.(b) The Authority may: (1) adopt bylaws for the conduct of its business;(3) maintain offices in the State;(4) sue and be sued in its own name;(6) use the services of governmental units;(7) contract for and accept, to carry out this subtitle, a loan or grant from the federal government, a political subdivision of the State, or any other source;(8) purchase, receive, lease as lessee, or otherwise acquire, sell, mortgage, lease as lessor, pledge, administer, dispose of, or otherwise deal with property given as collateral under a loan agreement on the terms and conditions it considers advisable;(9) adopt regulations necessary to carry out its powers;(10) acquire or take assignments of loan documents; and(11) do anything necessary or convenient to carry out its powers.(c) The Authority shall: (1) in its internal functions, follow the procedures of the State that govern the purchase of office space, supplies, facilities, materials, equipment, and professional services;(2) keep proper records of its accounts;(3) keep separate records for:(i) the Small Business Development Contract Financing Fund under Part III of this subtitle;(ii) the Small Business Development Guaranty Fund under Part IV of this subtitle;(iii) the Equity Participation Investment Program Fund under Part V of this subtitle; and(iv) the Small Business Surety Bond Fund under Part VI of this subtitle; and(4) in accordance with § 2.5-109 of this article, submit a report on its condition and operations.Amended by 2015 Md. Laws, Ch. 58,Sec. 1, eff. 6/1/2015.