Maryland Code, ECONOMIC DEVELOPMENT 10-111
Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 10-111
- 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.
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(i) may carry out its corporate purposes without the consent of any State unit; and
(ii) is not subject to:
1. Title 12, Subtitles 1 through 3 of this article;
2. the following provisions of the Local Government Article:
A. Title 18, Subtitle 1 (Parking Authorities Act); and
B. Title 18, Subtitle 2 (Ocean City Convention Center);
3. the following provisions of the State Finance and Procurement Article:
A. Title 2, Subtitles 2 (Gifts and Grants), 4 (Water and Sewerage Systems), and 5 (Facilities for the Handicapped);
B. Title 3 (Budget and Management);
C. Title 4 (Department of General Services);
D. Title 5A (Division of Historical and Cultural Programs);
E. Title 6, Subtitle 1 (Studies and Estimates);
F. Title 7, Subtitles 1 (State Operating Budget), 2 (Disbursements and Expenditures), and 3 (Unspent Balances);
G. §§ 8-127, 8-128, and 8-129 (certain restrictions on State general obligation bonds);
H. Title 8, Subtitle 1, Part V (State Revenue Anticipation Notes);
I. Title 10 (Board of Public Works – Miscellaneous Provisions); and
J. Division II (General Procurement Law);
4. the following provisions of the State Government Article:
A. Title 9, Subtitles 10 (State Archives and Artistic Property) and 17 (Maryland State Employees Surety Bond Committee); and
B. Title 11 (Consolidated Procedures for Development Permits); and
5. Article 41 of the Code.
(2) (i) The Corporation is subject to:
1. the Public Information Act; and
2. the Open Meetings Act.
(ii) For purposes of the Open Meetings Act, a project site visit or educational field tour may not be considered a meeting of the Corporation if no organizational business is conducted.
(b) (1) The Corporation, its officers, and its employees are subject to the Public Ethics Law.
(2) The officers and employees of the Corporation are not subject to:
(i) Division II of the State Personnel and Pensions Article; or
(ii) the provisions of Division I of the State Personnel and Pensions Article that govern the State Personnel Management System.
(c) The Corporation is a public body under Title 5, Subtitle 4 of this article, the Maryland Industrial Development Financing Authority Act, for purposes of applying for, receiving, and making agreements in connection with:
(1) a loan;
(2) a grant;
(3) insurance; or
(4) any other form of financial assistance.
(d) The Corporation is subject to the same State and local regulatory requirements as any private corporation.
(e) A project of the Corporation is subject to the zoning and subdivision regulations of the jurisdiction where it is located.
(f) The Corporation, its officers, and its employees are subject to Title 12, Subtitle 4 of the State Finance and Procurement Article.