MARVIN MANDEL, Governor                        1199

or the remainder thereof; and thereafter, these positions shall be
so filled.

(c)   The Foundation may appoint an executive director and other
employees as may be necessary to be paid for by monies made avail-
able for that purpose. The Foundation shall adopt by-laws for gov-
erning its functions and a seal and may operate to the same extent
as any private corporation.

(d)  The purpose of the Harford County Educational Foundation
is declared to be to further educational opportunities afforded by
established and recognized institutions of learning, particularly the
Harford Junior College, by providing financial resources and serv-
ices related thereto, for facilities as well as scholarships, fellow-
ships, loans, grant and other forms of assistance; and to provide
an instrumentality or depository for the receipt of funds by grant,
gift, devise or bequest for educational uses, particularly those forms
of philanthropy especially intended for education purposes.

(e)  In furtherance of the purposes of the Foundation it shall have
the following powers:

(1)  To accept funds from Federal and State Governments and
political subdivisions of Maryland.

(2)  To accept monies by gift, devise, or any other form, whether
absolute or conditional, in furtherance of the purposes of the
Foundation.

(3)   To act as trustee under any trust created solely for the edu-
cational benefit of an individual or individuals, and revocable upon
termination of the purposes of the trust, by the Settlor.

(4) To act as trustee, and to manage funds received by gift or
devise as continuing endowments, when the sole beneficiary is a
specific individual or individuals or class of individuals.

(5)  To act as trustee and to administer funds that may be re-
ceived from individuals, associations or corporations for specified
educational purposes, acceptable to the Foundation.

(6)  To establish one or more permanent endowment funds to be
used for educational scholarships or fellowships, and to administer
such funds in furtherance of the objectives of the Foundation.

(7)   To act in the capacity of advisor, counsellor and/or super-
visor of educational pursuits of beneficiaries under trusts or grants,
in the event such powers may be appended to monies received for
administration.

(8)  To assist banks and lending institutions in developing and
administering student loan plans.

(9)   To administer educational and research grants received from
Federal or State Governments, from Foundations or from others.

Should a question of law arise with respect to the power of the
Foundation to receive and administer any grant or devise, that can-
not otherwise be resolved, the Foundation or any party of interest
may petition the Circuit Court for Harford County or other Courts
having jurisdiction for instruction as to its responsibilities in the
property.