Maryland Financial Institutions Section 13-718

      The Authority is exempt:

            (1)      From taxation by the State and local government;

            (2)      Except as provided in Title 12, Subtitle 4 and Title 14, Subtitle 3 of the State Finance and Procurement Article, from the provisions of Division II of the State Finance and Procurement Article; and

            (3)      From the provisions of Division I of the State Personnel and Pensions Article that govern the State Personnel Management System.