WILLIAM DONALD SCHAEFER, Governor                   Ch. 246

(C)  THE BOARD HAS ALL THE POWERS CONFERRED ON IT BY:

(1)  THE ACT OF INCORPORATION OF THE MARYLAND COLLEGE
OF AGRICULTURE;

(2)  THE CHARTER OF THE UNIVERSITY OF MARYLAND; AND

(3)  THE CHARTER OF ANY CONSTITUENT INSTITUTION.

(D)  THE BOARD MAY:

(1)  APPLY FOR, ACCEPT, AND SPEND ANY GIFT OR GRANT
FROM THE FEDERAL GOVERNMENT, ANY FOUNDATION, OR ANY OTHER PERSON;
AND

(2)  MAINTAIN AND MANAGE ENDOWMENT INCOME FUNDS.

(E)  (1) THE BOARD MAY ESTABLISH NEW INSTITUTIONS AND
BRANCHES SUBJECT TO:

(I)  THE CONCURRENCE OF THE MARYLAND HIGHER
EDUCATION COMMISSION; AND

(II)  THE APPROVAL OF THE GOVERNOR AND THE
GENERAL ASSEMBLY.

(2)  WITHOUT THE APPROVAL OF THE GOVERNOR AND THE
GENERAL ASSEMBLY, THE BOARD MAY NOT CHANGE THE NAME OF ANY
CONSTITUENT INSTITUTION.

(3)  SUBJECT TO THE APPROVAL OF THE GOVERNOR AND THE
GENERAL ASSEMBLY, THE BOARD MAY MERGE, CONSOLIDATE, AND OR CLOSE
ANY CONSTITUENT INSTITUTION.

(4)  IN ITS DISCRETION, THE BOARD MAY ESTABLISH,
MERGE, CONSOLIDATE, AND OR CLOSE ANY CENTER OR INSTITUTE.

(F)  (1) WITH THE APPROVAL OF THE BOARD OF PUBLIC WORKS, THE
BOARD OF REGENTS MAY SELL OR EXCHANGE ANY PART OF ITS PROPERTIES.

(2) MONEY RECEIVED FROM THE SALE OF PROPERTY MAY BE

USED, IF APPROVED BY THE BOARD OF PUBLIC WORKS, ONLY TO PURCHASE

OR IMPROVE PROPERTY AND FACILITIES. THIS MONEY MAY NOT BE
APPLIED TO THE ANNUITY BOND FUND ACCOUNT.

(G)  (1) THE BOARD:

(I)  HAS THE POWER TO SUE OR BE SUED; AND

(II)  MAY CARRY COMPREHENSIVE LIABILITY
INSURANCE TO PROTECT THE BOARD, ITS AGENTS AND EMPLOYEES, AND THE
AGENTS AND EMPLOYEES OF ANY INSTITUTION UNDER ITS JURISDICTION.

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