HARRY HUGHES, Governor

1457

5, Subtitle 2 of the Corporations and Associations Article
of the Code which are not inconsistent with this title. The
council of unit owners has, subject to any provision of this
title, the declaration, and bylaws, the following powers:

(1)  To have perpetual existence, subject to the
right of the unit owners to terminate the condominium regime
as provided in § [11-121] 11-123 of this subtitle;

(2)  TO ADOPT AND AMEND BYLAWS AND RULES AND
REGULATIONS;

(3)  TO ADOPT AND AMEND BUDGETS FOR REVENUES,
EXPENDITURES, AND RESERVES AND COLLECT ASSESSMENTS FOR
COMMON EXPENSES FROM UNIT OWNERS;

[(2)] (4) To sue and be sued, complain and
defend, or intervene in litigation or administrative
proceedings in its own name on behalf of itself or two or
more unit owners on matters affecting the condominium;

[(3)] (5) 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)] (6) 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)] (7) 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)] (8) 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;

(9) TO HIRE AND TERMINATE MANAGING AGENTS AND
OTHER EMPLOYEES, AGENTS, AND INDEPENDENT CONTRACTORS;

[(7)] (10) 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)] (11) 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]