# Economic Development (GEC)

## Title 10. Statewide Development Resources and Revenue Authorities

### Subtitle 4. Maryland Technology Development Corporation

#### Section 10-408

(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.

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Md. Code Ann., Econ. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)