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Ch. 402
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2194
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LAWS OF MARYLAND
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Article 41 — Governor-Executive and Administrative
Departments, of the Annotated Code of Maryland (1971
Replacement Volume and 1976 Supplement) be and they are
hereby repealed and reenacted, with amendments, to read
as follows:
Article 41 — Governor—Executive and
Administrative Departments
266-0.
As used in this subtitle the following words and
terms have the following meanings and unless the context
indicates another or different meaning or intent:
(3) "Industrial project" means (i)
construction of a new industrial or manufacturing plant;
or (ii) acquisition, refinancing, rehabilitation, or
improvement of a former industrial or manufacturing
plant; or (iii) buildings used primarily for storage or
transshipment of manufactured goods; or (iv) buildings to
be used for research and development for the discovery,
perfection, or evaluation of new processes or products;
or (v) construction, acquisition, refinancing,
rehabilitation, or improvement of tourist or convention
facilities, which may include mercantile, retail, and
service establishments, if the Authority determines that
the facilities will be used primarily by or for tourists
or conventioneers; or (vi) mercantile, retail, or service
facilities that primarily serve out-of—state markets; or
(vii) office buildings for use as corporate or company
headquarters or regional offices for any business
activity, including the activities specified in this
subsection and including nonprofit institutions and
organizations. However, "industrial project" does not
include a mercantile or retail or service establishment
except as permitted by items (v), (vi), and (vii) of this
paragraph. A project may not be approved FOR INSURANCE
unless the Authority deems the economic impact of the
project to be substantial. IN DETERMINING WHETHER OR NOT
THE ECONOMIC IMPACT OF A PROJECT IS SUBSTANTIAL, THE
AUTHORITY MAY CONSIDER ANY FACTOR IT DEEMS RELEVANT,
INCLUDING THE AMOUNT OF INSURANCE REQUESTED, THE SIZE OF
THE LOAN, AND THE NUMBER OF NEW JOBS CREATED BY THE
PROJECT. Any finding or determination by the Authority
or the mortgagor in regard to the implementation of this
subtitle shall be conclusive. The financing,
construction, operation, and administration of an
industrial project under this subtitle shall be subject
to the provisions concerning discrimination and unlawful
practices in Article 49B of this Code, title "Human
Relations Commission."
266R.
(a) If a mortgagor defaults in payment of any
installment of a mortgage insured in whole or in part by
the Authority, the Authority, after notification of the
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