§ 10–408
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 10-408 (2026)
Title 10. Statewide Development Resources and Revenue Authorities
Subtitle 4. Maryland Technology Development Corporation
§ 10–408LinkCopy Citation
(a)
The Corporation shall adopt regulations establishing:
(1)
the investment committee;
(2)
the responsibilities of the investment committee, including a process for considering remedies, including divestment, for investments in a business that no longer meets the definition of a qualified business; and
(3)
the procedures for the appointment of investment committee members.
(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)
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;
(12)
exercise power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and
(13)
do all things necessary or convenient to carry out the powers granted by this subtitle.