Ch. 311                                    LAWS OF MARYLAND

(1) Have been transferred to the State by gift or
otherwise for substantially below market value as a vacant or
underutilized industrial facility or site;

(2)  Have been in existence in Maryland for 10 years
or more; and

(3)  Are not less than 10 acres.

(c)  If a transferor owns any additional property adjoining
the facility or site, the Board of Public Works shall have the
first option to purchase the adjoining property at a price to be
established at the time of the transfer.

(d)  Property conveyed under this section may be insured
under Title 9 of the State Finance and Procurement Article.

[12-114.] 5-114.

(a)  Except as otherwise provided in this section, in
exercising its corporate powers, the Corporation is exempt from
the provisions of Articles 15A; 21; 41; § 10-507 of the State
Government Article; and 78A of the [Code] CODE; and of § 2-105,
Title 2, Subtitles 2, 4, and 5., Titles 3 and 4, Title 6, Subtitle
1, Title 7, Subtitles 1, 2, and 3, §.§ 8-127, 8-128, and 8-129,
Part V of Title 8, Subtitle 1, and Titles 10 and [21] 11 of the
State Finance and Procurement Article, and may carry out its
corporate purposes without obtaining the consent of any
department, board, or agency of the State.

(b)  The Corporation and its officers and employees are
subject to the Public Ethics Law and the Public Information Act.

(c) (1) For purposes of applying for, receiving, and
entering, into agreements in connection with loans, grants,
insurance, or other forms of financial assistance, the
Corporation is:

(i) A public body within the meaning of the
Maryland Industrial Development Financing Authority Act; and

(ii) A political subdivision within the meaning
of the Maryland Industrial Land Act and the Maryland Industrial
and Commercial Redevelopment Fund Act.

(2) Article [41] 41A, §§ [12-411] 5-411, [12-412]
5-412, and [12-503] 5-503(c)(2)(iv) of the Code do not apply to
the Corporation when it is receiving financial assistance as
authorized under paragraph (1).

(d) Notwithstanding the provisions of subsection (a), the
Corporation is subject to any State or local regulatory
requirements to which a private corporation would be subject. In

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