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PARRIS N. GLENDENING, Governor S.B. 307
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Article 83A - Department of Business and Economic Development
Section 5-2A-04
Annotated Code of Maryland
(1998 Replacement Volume and 2001 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article 83A - Department of Business and Economic Development
5-2A-02.
(a) There is a Maryland Technology Development Corporation.
(b) The Corporation is a body politic and corporate and is constituted as a
public instrumentality of the State.
(c) The purpose of the Corporation is to:
(1) Assist in transferring to the private sector and commercializing the
results and products of scientific research and development conducted by colleges and
universities;
(2) Assist in the commercialization of technology developed in the
private sector; and
(3) Foster the commercialization of research and development described
in items (1) and (2) of this subsection to create and sustain businesses throughout all
regions of the State.
5-2A-04.
(a) The Corporation may:
(1) Adopt bylaws for the regulation of its affairs and the conduct of its
business;
(2) Adopt and alter an official seal;
(3) Maintain offices at a place within the State that it designates;
(4) Apply for and accept loans, grants, or assistance in any form from
federal, State, or local governments, colleges or universities, or private sources;
(5) Make, execute, and enter into any contracts or legal instruments;
(6) Sue or be sued;
(7) Acquire, construct, develop, manage, market, manufacture, license,
sublicense, reconstruct, rehabilitate, improve, maintain, equip, lease as a lessor or as
a lessee, repair, and operate any project in the State to carry out its purposes;
(8) Acquire, purchase, hold, lease as a lessee, and use any:
(i) Franchise, patent, or license;
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- 4521 -
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