Maryland Public Utility Companies Section 9-308

      (a)      Subject to § 6-101(c) of this article, a Maryland railroad company may acquire, own, hold, pledge, sell, dispose of, endorse, guarantee, or assume the stocks, bonds, and other securities of:

            (1)      a Maryland railroad company;

            (2)      a railroad company of any other state; and

            (3)      an inland, coast, or ocean transportation company.

      (b)      A Maryland railroad company may own and operate a line of steamships or steamboats if they can be used wholly or partly, in connection with the business of the Maryland railroad company.