Maryland Department of Business and Economic Development Section 5-2A-04
§ 5-2A-04.
  (a)   The Corporation may:
    (1)   Adopt bylaws for the regulation of its affairs and the conduct of its business;
    (2)   Adopt and alter an official seal;
    (3)   Maintain offices at a place within the State that it designates;
    (4)   Apply for and accept loans, grants, or assistance in any form from federal, State, or local governments, colleges or universities, or private sources;
    (5)   Make, execute, and enter into any contracts or legal instruments;
    (6)   Sue or be sued;
    (7)   Acquire, construct, develop, manage, market, license, sublicense, reconstruct, rehabilitate, improve, maintain, equip, lease as a lessor or as a lessee, repair, and operate any project in the State to carry out its purposes;
    (8)   Acquire, purchase, hold, lease as a lessee, and use any:
      (i)   Franchise, patent, or license;
      (ii)   Any real, personal, mixed, or tangible or intangible property; or
      (iii)   Any interest in the property listed in items (i) and (ii) of this item;
    (9)   Sell, lease as a lessor, transfer, license, sublicense, assign, and dispose of any property or interest in it at any time acquired by the Corporation;
    (10)   Acquire, either directly or indirectly, from any person or political subdivision, by purchase, gift, or devise any lands, structures, property, whether real or personal, rights-of-way, franchises, easements, and any other interests in lands, including lands lying under water and riparian rights which it considers necessary or convenient for the construction, improvement, rehabilitation, or operation of a project to carry out its purposes, on any terms and at any prices that it considers reasonable;
    (11)   Fix, revise, and collect rates, rentals, fees, royalties, and charges for the use of or for services and resources provided or made available by the Corporation;
    (12)   Make grants to or provide equity investment financing for technology-based businesses;
    (13)   Engage any necessary accountants, engineers, financial advisors, or other consultants;
    (14)   With the approval of the Attorney General, who shall otherwise be the legal advisor to the Corporation, engage any necessary lawyers;
    (15)   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;
    (16)   Enter into a project with a manufacturer to carry out the purposes of the corporation;
    (17)   Do all things necessary and convenient to carry out the powers granted by this subtitle; and
    (18)   Exercise any power usually possessed by a private corporation in performing similar functions, which is not in conflict with the Constitution and the laws of this State.
  (b)   Colleges and universities may:
    (1)   Contract with the Corporation or its subsidiaries, if any;
    (2)   Assign to the Corporation or its subsidiaries, if any, intellectual property and other resources to assist in its development and activities; and
    (3)   Assign faculty and staff to the Corporation.