2344

LAWS OF MARYLAND

Ch. 681

(3)  To transact its business, carry on its
operations and exercise the powers provided in this
subsection in any state, territory, district, or possession
of the United States and in any foreign country;

(4)  To make contracts and guarantees, incur
liabilities and borrow money, sell, mortgage, lease, pledge,
exchange, convey, transfer, and otherwise dispose of any
part of its property and assets;

(5)  To issue bonds, notes, and other obligations
and secure the same by mortgage or deed of trust of any part
of its property, franchises, and income;

(6)  To acquire by purchase or in any other
manner, to take, receive, own, hold, use, employ, improve,
and otherwise deal with any property, real or personal, or
any interest therein, wherever located;

(7)  To purchase, take, receive, subscribe for or
otherwise acquire, own, hold, vote, use, employ, sell,
mortgage, loan, pledge or otherwise dispose of, and
otherwise use and deal in and with, shares or other
interests in, or obligation of corporations of the State, or
foreign corporations, and of associations, partnerships, and
individuals;

(8)  To invest its funds and to lend money in any
manner appropriate to enable it to carry on the operations
or to fulfill the purposes named in the declaration or
bylaws, and to take and to hold real and personal property
as security for the payment of funds so invested or loaned;
and

(9)  Generally, to exercise the powers set forth
in this title and the declaration or bylaws and to do every
other act not inconsistent with law, which may be
appropriate to promote and attain the purposes set forth in
this title, the declaration or bylaws.

11-124.

(J) A CONTRACT FOR THE SALE OF A UNIT SUBSEQUENT TO
THE INITIAL SALE OF THAT UNIT IS NOT ENFORCEABLE BY THE
VENDOR UNLESS THE VENDOR DELIVERS THE FOLLOWING DOCUMENTS TO
THE PURCHASER:

(1)  A COPY OF THE DECLARATION AND BYLAWS;

(2)  A COPY OF THE ARTICLES OF INCORPORATION OF
THE COUNCIL OF UNIT OWNERS, IF IT IS INCORPORATED; AND

(3)  A COPY OF THE THEN CURRENT ANNUAL OPERATING
BUDGET FOR THE CONDOMINIUM, IF ANY.

A GRANT OF A UNIT IS NOT INVALID IF THE VENDOR FAILS TO
COMPLY WITH THE REQUIREMENTS OF THIS SUBSECTION.