Maryland Governor - Executive and Administrative Departments Section 13-508

      The Corporation may:

            (1)      Subject to the rights of holders of bonds of the Corporation:

                  (i)      Renegotiate, refinance, or foreclose on any mortgage, security interest, or lien;

                  (ii)      Commence any action to protect or enforce any right or benefit conferred on the Corporation by any law, mortgage, security interest, lien, contract, or other agreement; and

                  (iii)      Bid for and purchase property at any foreclosure or at any other sale or otherwise acquire or take possession of any property, in which case the Corporation may complete, administer, pay the principal of any interest on any obligation incurred in connection with the property, dispose of and otherwise deal with the property in any manner necessary or desirable to protect the interest of the Corporation or the holders of its bonds in the property;

            (2)      Procure or provide for the procurement of insurance or reinsurance against any loss in connection with its property or operations, including insurance, reinsurance, or other guarantees from any federal or State governmental unit or private insurance company for the payment of any bonds issued by the Corporation, or bonds, notes or any other obligations or evidences of indebtedness issued or made by any lending institution or other entity or person, or insurance or reinsurance against loss with respect to agricultural loans, mortgages or mortgage loans, or any other type of loans, including the power to pay premiums on the insurance or reinsurance;

            (3)      Insure, co-insure, reinsure, or cause to be insured, co-insured, or reinsured, agricultural loans, mortgage loans or mortgages, or any other type of loans and pay or receive premiums on the insurance, co-insurance, or reinsurance, and establish reserves for losses, and participate in the insurance, co-insurance, or reinsurance of agricultural loans, mortgage loans or mortgages, or any other type of loans with the federal or State government or any private insurance company;

            (4)      Undertake and carry out or authorize the completion of studies and analyses of agricultural conditions and needs in the State and needs relating to the promotion of agricultural industries and ways of meeting those needs, and make the studies and analyses available to the public and to the agricultural industries, and to engage in research or disseminate information on agriculture and agricultural marketing and promotion;

            (5)      Accept federal, State, or private financial or technical assistance and comply with any conditions for that assistance that are not in conflict with the intent of this subtitle;

            (6)      Establish and collect fees and charges in connection with its loans, deposits, insurance commitments, and services, including reimbursement of costs of issuing bonds, origination and servicing fees, and insurance premiums;

            (7)      Make loans to or deposits with lending institutions and purchase or sell agricultural loans;

            (8)      Acquire or contract to acquire from any person, by grant, purchase, or otherwise, movable or immovable property or any interest in property;

            (9)      Own, hold, clear, improve, lease, construct, or rehabilitate, and sell, invest, assign, exchange, transfer, convey, lease, mortgage, or otherwise dispose of or encumber property, subject to the rights of holders of the bonds of the Corporation, at public or private sale, with or without public bidding;

            (10)      Borrow money, issue bonds, and provide for the rights of the lenders or holder thereof and purchase, discount, sell, negotiate and guarantee, insure, co-insure and reinsure notes, drafts, checks, bills of exchange, acceptances, bankers' acceptances, cable transfers, letters of credit, and other evidence of indebtedness;

            (11)      Subject to the rights of holders of the bonds of the Corporation, consent to any modification with respect to the rate of interest, time, payment of any installment of principal or interest, security, or any other term or condition of any loan, contract, mortgage, mortgage loan, or commitment or agreement of any kind to which the Corporation is a party or beneficiary; and

            (12)      Issue revenue bonds under § 13-510 of this subtitle.