Maryland Code, ECONOMIC DEVELOPMENT 10-909
Terms Used In Maryland Code, ECONOMIC DEVELOPMENT 10-909
- 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.
- Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
- 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
(1) adopt bylaws for the conduct of its business;
(2) adopt a seal;
(3) maintain offices at a place in the State that the Corporation designates;
(4) accept loans, grants, or assistance of any kind from the federal or State government, local government, a college or university, or a private source;
(5) accept assistance from the Maryland Economic Development Corporation;
(6) enter into contracts and other legal instruments;
(7) sue or be sued;
(8) acquire, purchase, hold, lease as lessee, and use:
(i) a franchise, patent, or license;
(ii) any real, personal, mixed, tangible, or intangible property; or
(iii) an interest in the property listed in this item;
(9) sell, lease as lessor, transfer, license, assign, or dispose of property or a property interest that the Corporation acquires;
(10) fix and collect rates, rentals, fees, royalties, and charges for services and resources the Corporation provides or makes available; and
(11) do all things necessary or convenient to carry out the powers granted by this subtitle.