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ROBERT L. EHRLICH, JR., Governor Ch. 63
Defined terms: "Authority" § 12-101
"Housing project" § 12-101
"Obligee" § 12-101
SUBTITLE 5. POWERS AND LIMITATIONS ON POWERS.
12-501. STATUS OF AUTHORITIES.
AN AUTHORITY IS A PUBLIC BODY CORPORATE AND POLITIC THAT:
(1) EXERCISES PUBLIC AND ESSENTIAL GOVERNMENTAL FUNCTIONS;
AND
(2) HAS ALL THE POWERS NECESSARY OR CONVENIENT TO CARRY OUT
THE PURPOSES OF THIS DIVISION II.
REVISOR'S NOTE: This section is new language derived without substantive
change from the introductory language of former Art. 44A, § 1-301, except
for the reference to the powers of the authority that were enumerated in
the balance of that section.
The former reference to powers necessary or convenient to "effectuate" the
purposes of this Division II is deleted in light of the reference to powers to
"carry out" the purposes.
The former reference to the "provisions" of this Division II is deleted as
surplusage.
Defined term: "Authority" § 12-101
12-502. ENUMERATED POWERS.
(A) IN GENERAL.
IN ADDITION TO ANY POWERS SET FORTH ELSEWHERE, AN AUTHORITY HAS
THE POWERS SET FORTH IN THIS SECTION.
(B) LEGAL.
AN AUTHORITY MAY:
(1) SUE AND BE SUED;
(2) HAVE AND ALTER A SEAL AT PLEASURE;
(3) HAVE PERPETUAL EXISTENCE;
(4) MAKE CONTRACTS AND OTHER INSTRUMENTS NECESSARY OR
CONVENIENT TO THE EXERCISE OF THE AUTHORITY'S POWERS;
(5) MAKE, AMEND, AND REPEAL BYLAWS, RULES, AND REGULATIONS
NOT INCONSISTENT WITH THIS DIVISION II; AND
(6) CARRY OUT THE PURPOSES OF THE AUTHORITY.
- 453-
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