1988

LAWS OF MARYLAND

Ch. 494

(1)  Has any interest in the [mortgagee] LENDER
or proposed [mortgagee] LENDER;

(2)  Has any interest in any person that would
OWN, rent, lease, or otherwise occupy the [premises subject
to the mortgage] INDUSTRIAL PROJECT; or

(3)  Is a director or officer of or otherwise
associated with a local development corporation that is the
[mortgagor] BORROWER or proposed [mortgagor of the mortgage]
BORROWER.

(B)  THE EXISTENCE OF ANY CONFLICT OF INTEREST SHALL
NOT AFFECT THE VALIDITY OF ANY FINDING OR DETERMINATION MADE
PURSUANT TO THIS SUBTITLE.

13-113.

(a)  The Authority exercises its powers and performs
its duties subject to the authority of the Secretary.

(b)  The exercise by the Authority of the powers
granted by this subtitle constitutes an essential
governmental function.

(C)  NEITHER THE MEMBERS OF THE AUTHORITY NOR ANY
PERSON EXECUTING BONDS SHALL BE LIABLE PERSONALLY ON THE
BONDS OR BE SUBJECT TO ANY PERSONAL LIABILITY OR
ACCOUNTABILITY BY REASON OF THE ISSUANCE THEREOF.

13-114.

In addition to any other powers set forth in this
subtitle, the Authority may:

(1)  Adopt bylaws to regulate its affairs and the
conduct of its business;

(2)  Adopt and use an official seal;

(3)  Maintain offices at the places in this State
that it designates;

(4)  Sue and be sued in its own name;

(5)  Contract for and engage the services of
consultants;

(6)  Use the services of other governmental
agencies;

(7)  Contract for and accept, for use in carrying
out the provisions of this subtitle, loans and grants from
the federal, STATE, OR ANY LOCAL government and any of its
agencies and instrumentalities;