Sec. 62-5. District corporation net earnings; powers.
Montgomery County, Md., Code § 62-5 (2026)
Sec. 62-5. District corporation net earnings; powers.LinkCopy Citation
(a)
Earnings. The net earnings of the district corporation must benefit only the district corporation.
(b)
Powers.
(1)
Except as limited by its articles of incorporation, the district corporation has all the powers set forth in §§12-601 to 12-612 of the Economic Development Article of the Annotated Code of Maryland and this Chapter.
(2)
A district corporation may:
(A)
receive money from the County, the State, other governmental units, or nonprofit organizations;
(B)
charge fees for its services;
(C)
have employees and consultants as it considers necessary; and
(D)
use the services of other governmental units.
(c)
Use of powers. A district corporation must operate and exercise its powers solely to accomplish one or more of the legislative purposes of §§12-601 to 12-612 of the Economic Development Article of the Annotated Code of Maryland and this Chapter.