Maryland Code, ECONOMIC DEVELOPMENT 10-511
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Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 10-511
- 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.
- Devise: To gift property by will.
- including: means includes or including by way of illustration and not by way of limitation. See
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
The Corporation may:
(1) acquire, improve, develop, manage, market, manufacture, license, maintain, lease as lessor or as lessee, and operate a project in the State to carry out the purposes of the Corporation;
(2) acquire, directly or indirectly, by purchase, gift, or devise, property, rights, rights-of-way, franchises, easements, and other interests in land, including land lying under water and riparian rights, located in or outside the State as necessary or convenient to improve or operate a project, on terms and at prices the Corporation considers reasonable; and
(3) enter into a project with a manufacturer to carry out the purposes of this subtitle.