Maryland Code, NATURAL RESOURCES 3-203
Terms Used In Maryland Code, NATURAL RESOURCES 3-203
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Bequest: Property gifted by will.
- Devise: To gift property by will.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- gift: includes an inter vivos gift, inter vivos endowment, bequest, devise, legacy, or testamentary endowment of any interest in real or personal property. See
- 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
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Personal property: All property that is not real property.
- Quorum: The number of legislators that must be present to do business.
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(1) Receive annual appropriations as provided in the budget;
(2) Sponsor, assist, conduct, or otherwise cause to be undertaken, comprehensive programs of research and education pertaining to the aesthetic, natural, health and welfare, scenic, or cultural qualities of the State environment, including the provision of financial grants to public and private agencies, organizations, and persons engaged by the trustees for consulting and other special participation in these programs;
(3) Acquire and hold real and personal property, or any interest therein, of aesthetic, scenic, or cultural significance, or of significance to the health and welfare of the public, by lease, gift, purchase, devise, bequest, or by any other means, and conserve, improve, administer, invest, or dispose of the properties for the purposes of the Trust, and in the acquisition of these properties to acquire property adjacent thereto deemed necessary for the proper use and administration of the Trust;
(4) Accept any gift. The trustees may expend both principal and income of any gift of money or invest it in whole or in part in general obligations of the State or other securities in furtherance of the Trust, as decided at a regular or special meeting, if a quorum is present, by the affirmative vote of a minimum of seven elected trustees;
(5) Apply any money, assets, property or other things of value it may receive as an incident to its operation, to the general purposes of the Trust;
(6) Cooperate with and assist as far as practicable, any unit of the State, any political subdivision, and any private, public, or federal agency, foundation, or person, in furtherance of the purposes of the Trust;
(7) Take any action necessary or proper to effectuate the powers expressly conferred by this subtitle;
(8) Adopt, subject to the terms of this subtitle, rules and regulations necessary or proper for the regulation of their own government or to effectuate the purpose of the Trust;
(9) Delegate any of the powers conferred to any one or more of the trustees or the director of the Trust; and
(10) Report annually to the Governor and, subject to § 2-1257 of the State Government Article, to the General Assembly on the Trust’s activities during the preceding year together with any recommendations or requests deemed appropriate to further the purposes of the Trust.