1274

LAWS OF MARYLAND

Ch. 284

TO CARRY OUT THE PURPOSES AND GOALS OF THE VETERANS¹ HOME
COMMISSION, THE COMMISSION MAY ACQUIRE, HOLD, USE, IMPROVE, AND
CONVEY PROPERTY.

(B)  GIFTS AND GRANTS.

IN ADDITION TO ANY OTHER POWER UNDER THIS SECTION, TO CARRY
OUT THE PURPOSES OR GOALS OF THE VETERANS' HOME COMMISSION, THE
COMMISSION:

(1)  MAY ACCEPT A GIFT OR GRANT; AND

(2)  UNLESS THE TERMS OF A GIFT OR GRANT REQUIRE
OTHERWISE, ON AN AFFIRMATIVE VOTE OF AT LEAST 7 MEMBERS OF THE
COMMISSION, MAY:

(I)   SPEND THE PRINCIPAL AND INCOME OF THE GIFT
OR GRANT; OR

(II)   INVEST ALL OR PART OF THE PRINCIPAL AND
INCOME IN:

1.   GENERAL OBLIGATIONS OF THE STATE; OR

2.  ANY OTHER SECURITY.

(C)   LEASES.

(1)   IN ADDITION TO ANY OTHER POWER UNDER THIS
SECTION, THE VETERANS' HOME COMMISSION MAY LEASE ANY PART OF ITS
PROPERTY FOR USE AS A CONCESSION OR OTHER COMMERCIAL PURPOSE THAT
IS CONSISTENT WITH THE PURPOSES OF THE COMMISSION. HOWEVER, THE
COMMISSION MAY NOT LEASE ITS PROPERTY MERELY FOR INVESTMENT
PURPOSES.

(2)  NOTWITHSTANDING ANY OTHER LAW, UNLESS THE LEASE
EXPRESSLY PROVIDES FOR REDEMPTION BY THE TENANT, THE LEASE IS NOT
SUBJECT TO REDEMPTION.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 96 1/2, §
55(a), (d), (e), and (i) and the second through fourth
sentences and first clause of the first sentence of §
60.

In subsection (a) of this section, the word "use" is
substituted for the former words "conserve",
"administer", "invest", and "apply", for brevity.

Also in subsection (a) of this section, the former
words "dispose", "sell", "assign", "lease", and
"transfer" are deleted as unnecessary in light of the
broad word "convey".