Maryland Education Section 24-207
§ 24-207.
(a) It is the public policy of the State that gifts, donations, bequests, private endowments, and private grants may be received by the Commission.
(b) (1) The Commission is encouraged to promote private fund-raising by strengthening institutional development activities and by maintaining relationships with affiliated foundations.
(2) (i) Affiliated foundations that are independently established for this purpose shall operate subject to policies adopted by the Commission and be approved for form and legal sufficiency by the Attorney General.
(ii) Those policies regarding or pertaining to conflict of interest, financial disclosure, or lobbying shall be reviewed and approved by the State Ethics Commission.
(3) (i) Sections 15-501 through 15-504 of the State Government Article do not bar an official or employee of the Commission from becoming a director or official of an independent foundation organized to foster fund-raising and provide related services for the benefit of the Commission.
(ii) An official or employee of the Commission who serves as a director or official of an independent foundation organized to foster fund-raising and provide related services for the benefit of the Commission:
1. May not be compensated by the foundation; and
2. May be reimbursed for bona fide expenses incurred in the performance of activities undertaken on behalf of the foundation as authorized by the board of directors of that foundation.
(4) (i) The Commission may not accept funds from an affiliated foundation unless the fiscal affairs of the affiliated foundation are audited annually by an independent certified public accountant.
(ii) The independent certified public accountant shall send copies of each annual audit report to the Commission and, subject to § 2-1246 of the State Government Article, to the Department of Legislative Services.
