4606

LAWS OF MARYLAND

Ch. 836

(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;

(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;

(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;

(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;

(12)  To regulate the use, maintenance, repair,
replacement, and modification of common elements;

(13)  To cause additional improvements to be made
as a part of the general common elements;

(14)  To grant easements, leases, licenses, and
concessions through or over the general common elements IN
ACCORDANCE WITH § 11-125(F);

(15)  To impose and receive any payments, fees,
or charges for the use, rental, or operation of the common
elements other than limited common elements;

(16)  To impose charges for late payment of
assessments and, after notice and an opportunity to be
heard, levy reasonable fines for violations of the
declaration, bylaws, and rules and regulations of the
council of unit owners, [pursuant to § 11-112] UNDER §
11-113;

(17)  To impose reasonable charges for the
preparation and recordation of amendments to the
declaration, bylaws, rules, regulations, or resolutions,
resale certificates, or statements of unpaid assessments;

(18)  To provide for the indemnification of and
maintain liability insurance for officers, directors, and