Maryland Code, ALCOHOLIC BEVERAGES AND CANNABIS 36-406
Terms Used In Maryland Code, ALCOHOLIC BEVERAGES AND CANNABIS 36-406
- Contract: A legal written agreement that becomes binding when signed.
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(b) Subject to subsection (d) of this section, the Maryland Economic Development Corporation, in consultation with the Administration, shall acquire and construct or refurbish at least one facility to operate an incubator space.
(c) After the completion of the construction or refurbishment of a facility acquired under subsection (b) of this section, ownership of the facility shall be transferred to the Department of General Services.
(d) The Department of General Services shall contract with a nonprofit organization to operate a facility under subsection (b) of this section.
(e) An incubator space licensee may purchase equipment to be used by other incubator space licensees in the same incubator space.
(f) The Administration shall adopt regulations to establish a Maryland Incubator Program based on the best practices in other states.