HARRY HUGHES, Governor

531

this title.
10-104. GENERAL POWERS AND DUTIES.

(A)       GENERAL CORPORATE POWERS.

EXCEPT AS OTHERWISE PROVIDED IN THIS TITLE, THE

CORPORATION HAS ALL OF THE POWERS, PRIVILEGES, AND

IMMUNITIES GRANTED TO MARYLAND CORPORATIONS UNDER THE
MARYLAND GENERAL CORPORATION LAW.

REVISOR'S NOTE: This subsection presently appears as
the second sentence of Art. 23, § 161MM.

The only changes are in style.

Present Art. 23, § 161NN(b)(vii), which has
similar provisions, is deleted as unnecessary.

The Maryland General Corporation Law is contained
in Titles 1 through 3 of the Corporations and
Associations Article. See CA § 1—103.

The term "Corporation" is defined in § 10—101 of
this title.

(B)       PERPETUAL EXISTENCE.

THE CORPORATION HAS PERPETUAL EXISTENCE.

REVISOR'S NOTE: This subsection presently appears as
Art. 23, § 161VV.

The only changes are in style.

(C)       FINANCIAL ASSISTANCE TO MEMBERS; CENTRAL RESERVE
FUND.

THE CORPORATION MAY:

(1)       LEND MONEY TO ANY OF ITS MEMBERS;

(2)       GUARANTEE, ENDORSE, OR ACT AS SURETY ON THE
OBLIGATIONS OF OR OTHERWISE ASSIST FINANCIALLY ANY OF ITS
MEMBERS;

(3)       ESTABLISH AND REGULATE THE TERMS AND
CONDITIONS OF AND CHARGES FOR ANY LOANS OR FINANCIAL
ASSISTANCE TO ITS MEMBERS; AND

(4)        ESTABLISH A CENTRAL RESERVE FUND FOR LOANS
TO ITS MEMBERS, WHICH FUND IS NOT SUBJECT TO ANY INSURANCE
CLAIM AGAINST THE CORPORATION.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from the first clause
of Art. 23, § 161NN(b) and from § 161NN(b)(i) and