§ 10–509
Statutes in effect as of October 1, 2026.
Md. Code Ann., Econ. Dev. § 10-509 (2026)
Title 10. Statewide Development Resources and Revenue Authorities
Subtitle 5. Maryland Agricultural and Resource-Based Industry Development Corporation
§ 10–509LinkCopy Citation
The Corporation may:
(1)
adopt bylaws for the conduct of its business;
(2)
adopt a seal;
(3)
maintain an office at a place it designates in the State;
(4)
accept loans, grants, or financial and technical assistance in any form from the federal or State government, local governments, colleges or universities, or a private source;
(5)
enter into contracts and other legal instruments;
(6)
sue or be sued;
(7)
acquire, purchase, hold, lease as a lessee, and use any franchise, patent, or license and real, personal, mixed, or tangible or intangible property, or any interest in property;
(8)
own, improve, sell, lease as a lessor, transfer, license, assign, encumber, and dispose of any property or interest in property, necessary or convenient to carry out its purposes at public sale, with or without public bidding;
(9)
fix and collect rates, rentals, fees, royalties, and charges for the use of or for services and resources it provides or makes available;
(10)
retain any necessary accountants, engineers, financial advisors, and other consultants;
(11)
with the approval of the Attorney General, retain any necessary lawyers;
(12)
further define or limit the term “revenue” defined in § 10-501 of this subtitle as the term applies to a particular project, financing, or other matter;
(13)
create, own, control, or be a member of a corporation, limited liability company, partnership, or other person, whether operated for profit or not for profit;
(14)
exercise a power usually possessed by a private corporation in performing similar functions unless to do so would conflict with State law; and
(15)
do anything necessary or convenient to carry out the powers granted by this subtitle.