MARVIN MANDEL, Governor
1911
CONVEY, TRANSFER, AND OTHERWISE DISPOSE OF ALL OR ANY
PART OF ITS ASSETS;
(6) ISSUE BONDS, NOTES, AND OTHER OBLIGATIONS AND
SECURE THEM BY MORTGAGE OR DEED OF TRUST OF ALL OR ANY
PART OF ITS ASSETS;
(7) SUBJECT TO §8-302 OF THIS SUBTITLE, ACQUIRE BY
PURCHASE OR IN ANY OTHER MANNER AND TAKE, RECEIVE, OWN,
HOLD, USE, EMPLOY, IMPROVE, ENCUMBER, AND OTHERWISE DEAL
WITH ANY INTEREST IN RIAL AND PERSONAL PROPERTY, WHEREVER
LOCATED;
(8) PURCHASE, TAKE, RECEIVE, SUBSCRIBE FOR, OR
OTHERWISE ACQUIRE, OWN, HOLD, VOTE, USE, EMPLOY, SELL,
MORTGAGE, LOAN, PLEDGE, OR OTHERWISE DISPOSE OF AND DEAL
IN AND WITH:
(I) SECURITIES, SHARES, AND OTHER INTERESTS
IN ANY OBLIGATIONS OF DOMESTIC AND FOREIGN CORPORATIONS,
OTHER REAL ESTATE INVESTMENT TRUSTS, ASSOCIATIONS,
PARTNERSHIPS, AND INDIVIDUALS; AND
(II) DIRECT AND INDIRECT OBLIGATIONS OF THE
UNITED STATES, ANY OTHER GOVERNMENT, STATE, TERRITORY,
GOVERNMENT DISTRICT, AND MUNICIPALITY, AND ANY
INSTRUMENTALITY OF THEM;
(9) ELECT OR APPOINT TRUSTEES, OFFICERS, AND AGENTS
OF THE TRUST FOR THE PERIOD OF TIME THE DECLARATION OF
TRUST OR BYLAWS PROVIDE, DEFINE THEIR DUTIES, AND
DETERMINE THEIR COMPENSATION;
(10) ADOPT AND IMPLEMENT EMPLOYEE AND OFFICER
BENEFIT PLANS;
(11) MAKE AND ALTER BYLAWS NOT INCONSISTENT WITH
LAW OR WITH ITS DECLARATION OF TRUST TO REGULATE THE
GOVERNMENT OF THE REAL ESTATE INVESTMENT TRUST AND THE
ADMINISTRATION OF ITS AFFAIRS;
(12) EXERCISE THESE POWERS, INCLUDING THE POWER TO
TAKE, HOLD, AND DISPOSE OF THE TITLE TO REAL AND PERSONAL
PROPERTY IN THE NAME OF THE TRUST OR IN THE NAME OF ITS
TRUSTEES, WITHOUT THE FILING OF ANY BOND, EXCEPT A BOND
REQUIRED UNDER §8-204 OF THIS TITLE; AND
(13) GENERALLY EXERCISE THE POWERS SET FORTH IN ITS
DECLARATION OF TRUST WHICH ARE NOT INCONSISTENT WITH LAW
AND ARE APPROPRIATE TO PROMOTE AND ATTAIN THE PURPOSES
SET FORTH IN ITS DECLARATION OF TRUST.
REVISOR'S NOTE: This section presently appears as
Art. 78C, §3, except present item (9) which
|
|