{"data":{"id":"us-md/md.-code-economic-development-10-408","jurisdiction":"us-md","citation":"Md. Code, Economic Development § 10–408","heading":"","body":"(a) The Corporation shall adopt regulations establishing:\n(1) the investment committee;\n(2) the responsibilities of the investment committee; and\n(3) the procedures for the appointment of investment committee members.\n(b) The Corporation may:\n(1) adopt bylaws for the conduct of its business;\n(2) adopt a seal;\n(3) maintain offices at a place it designates in the State;\n(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;\n(5) enter into contracts and other legal instruments;\n(6) sue or be sued;\n(7) acquire, purchase, hold, lease as lessee, and use:\n(i) a franchise, patent, or license;\n(ii) any real, personal, mixed, tangible, or intangible property; or\n(iii) an interest in the property listed in this item;\n(8) sell, lease as lessor, transfer, license, assign, or dispose of property or a property interest that it acquires;\n(9) fix and collect rates, rentals, fees, royalties, and charges for services and resources it provides or makes available;\n(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;\n(11) subject to a written agreement, provide administrative support and services to an entity described under item (10) of this subsection and receive compensation for providing the support and services;\n(12) exercise power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and\n(13) do all things necessary or convenient to carry out the powers granted by this subtitle.","path":["Article - Economic Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec\u0026section=10-408","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:57:28Z","sha256":"7c2fa5d4bfe5d7042d9e879f62860aaa6b8e33db0ab641aae794ea290b6a2611","source_id":"us-md","stale":false,"prev":"us-md/md.-code-economic-development-10-407","next":"us-md/md.-code-economic-development-10-409"},"notice":"GroundRules: Original legal text. Not legal advice."}