Home Table of Contents

§ 10-1006. Powers

West's Annotated Code of MarylandEconomic DevelopmentEffective: June 1, 2023

West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 10. Statewide Development Resources and Revenue Authorities (Refs & Annos)
Subtitle 10. Maryland Thoroughbred Racetrack Operating Authority (Refs & Annos)
Effective: June 1, 2023
MD Code, Economic Development, § 10-1006
§ 10-1006. Powers
Currentness
The Authority 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) retain, employ, or hire an independent firm for the purpose of operating and managing live horse racing in the State;
(7) sue or be sued;
(8) acquire, purchase, hold, lease as lessee, and use:
(i) a franchise, patent, or license;
(ii) stock or other forms of ownership interests in corporations, limited liability companies, partnerships, or other entities, whether operated for profit or not for profit;
(iii) any real, personal, mixed, tangible, or intangible property; or
(iv) an interest in a property listed under this item;
(9) sell, lease as lessor, transfer, license, assign, or dispose of property or a property interest that it acquires;
(10) fix and collect rates, rentals, fees, royalties, and charges for services and resources it provides or makes available;
(11) 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;
(12) exercise power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law;
(13) assist with the advertising and promotion of horse racing interests; and
(14) do all things necessary or convenient to carry out the powers granted by this subtitle.

Credits

Added by Acts 2023, c. 111, § 2, eff. June 1, 2023.
MD Code, Economic Development, § 10-1006, MD ECON DEV § 10-1006
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document