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Maryland Code, Economic Development § 10-314

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(a) The Authority may:

(1) adopt bylaws for the conduct of its business;

(2) sue and be sued;

(3) adopt a seal;

(4) maintain an office at a place it designates;

(5) issue bonds in accordance with this subtitle;

(6) accept a grant, loan, or other assistance in any form from any public or private source, subject to the provisions of this subtitle;

(7) charge to and equitably allocate among participating institutions the administrative costs and expenses of carrying out this subtitle;  and

(8) do all things necessary or convenient to carry out the powers expressly granted by this subtitle.

(b)(1) A health care institution may not use any money received from a bond issued by the Authority to match any State loan or grant that is available for improvement of a health care institution.

(2) The Authority shall comply with the terms and conditions of assistance received in accordance with subsection (a)(6) of this section.

(c) The Authority may delegate to a member or officer a power granted to the Authority by this subtitle, including the power to execute a bond, certificate, deed, lease, mortgage, agreement, or other document or instrument.

Cite this article: - Maryland Code, Economic Development § 10-314 - last updated December 31, 2021 |

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