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<section article="gec" article_name="Economic Development" number="10-408" title_number="10" title_name="Statewide Development Resources and Revenue Authorities" subtitle_number="4" subtitle_name="Maryland Technology Development Corporation">
  <level label="a">
    <text>The Corporation shall adopt regulations establishing:</text>
    <level label="1">
      <text>the investment committee;</text>
    </level>
    <level label="2">
      <text>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</text>
    </level>
    <level label="3">
      <text>the procedures for the appointment of investment committee members.</text>
    </level>
  </level>
  <level label="b">
    <text>The Corporation may:</text>
    <level label="1">
      <text>adopt bylaws for the conduct of its business;</text>
    </level>
    <level label="2">
      <text>adopt a seal;</text>
    </level>
    <level label="3">
      <text>maintain offices at a place it designates in the State;</text>
    </level>
    <level label="4">
      <text>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;</text>
    </level>
    <level label="5">
      <text>enter into contracts and other legal instruments;</text>
    </level>
    <level label="6">
      <text>sue or be sued;</text>
    </level>
    <level label="7">
      <text>acquire, purchase, hold, lease as lessee, and use:</text>
      <level label="i">
        <text>a franchise, patent, or license;</text>
      </level>
      <level label="ii">
        <text>any real, personal, mixed, tangible, or intangible property; or</text>
      </level>
      <level label="iii">
        <text>an interest in the property listed in this item;</text>
      </level>
    </level>
    <level label="8">
      <text>sell, lease as lessor, transfer, license, assign, or dispose of property or a property interest that it acquires;</text>
    </level>
    <level label="9">
      <text>fix and collect rates, rentals, fees, royalties, and charges for services and resources it provides or makes available;</text>
    </level>
    <level label="10">
      <text>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;</text>
    </level>
    <level label="11">
      <text>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;</text>
    </level>
    <level label="12">
      <text>exercise power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and</text>
    </level>
    <level label="13">
      <text>do all things necessary or convenient to carry out the powers granted by this subtitle.</text>
    </level>
  </level>
</section>
