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§ 10-408. Powers--In general

West's Annotated Code of MarylandEconomic DevelopmentEffective: October 1, 2020

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 4. Maryland Technology Development Corporation (Refs & Annos)
Part I. General Provisions (Refs & Annos)
Effective: October 1, 2020
MD Code, Economic Development, § 10-408
§ 10-408. Powers--In general
Currentness
Regulations
(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.
Powers
(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) exercise power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and
(12) do all things necessary or convenient to carry out the powers granted by this subtitle.

Credits

Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008. Amended by Acts 2008, c. 307, § 1, eff. Oct. 1, 2008; Acts 2015, c. 141, § 2, eff. Oct. 1, 2015; Acts 2019, c. 487, § 1, eff. June 1, 2019; Acts 2019, c. 488, § 1, eff. June 1, 2019; Acts 2020, c. 580, § 1, eff. Oct. 1, 2020.
MD Code, Economic Development, § 10-408, MD ECON DEV § 10-408
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.
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