US Laws, Codes, Statutes & Cases

      (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.