Ch. 26

2004 LAWS OF MARYLAND

(2)      REPORT ANNUALLY TO THE GOVERNOR AND, SUBJECT TO § 2-1246 OF
THIS ARTICLE, TO THE GENERAL ASSEMBLY ON THE CORPORATION'S ACTIVITIES
DURING THE PRECEDING YEAR, INCLUDING:

(I)      THE NUMBER OF STUDENTS AND OTHER TYPES OF VISITORS
SERVED;

(II)     THE NUMBER OF VOLUNTEERS AND TOTAL HOURS
CONTRIBUTED TO THE OPERATION OF THE MUSEUM;

(III)   THE AMOUNT AND TYPE OF PRIVATE AND NONSTATE MONEY
DONATED, PLEDGED, OR OTHERWISE PROVIDED; AND

(IV)    ANY RECOMMENDATIONS OR REQUESTS THE CORPORATION
CONSIDERS APPROPRIATE TO FURTHER THE MISSION OF THE MUSEUM; AND

(3)      PUBLISH REPORTS AND ANY OTHER MATERIAL IT CONSIDERS
NECESSARY.

REVISOR'S NOTE: This section formerly was Art, 41, § 20-105(b).

The only changes are in style.

Defined term: "Corporation" § 9-2601

9-2607. EARNINGS.

EXCEPT FOR THE NET EARNINGS OF THE CORPORATION NECESSARY TO PAY
DEBT SERVICE OR IMPLEMENT THE CORPORATION'S MUSEUM PLAN, THE NET
EARNINGS OF THE CORPORATION SHALL INURE TO THE BENEFIT OF THE STATE AND
NOT TO ANY PERSON.

REVISOR'S NOTE: This section formerly was Art. 41, § 20-106.

No changes are made.

Defined term: "Corporation" § 9-2601

9-2608. TAXES.

(A)     PAYMENT NOT REQUIRED.

EXCEPT AS PROVIDED IN SUBSECTION (B) OF THIS SECTION, THE CORPORATION
IS NOT REQUIRED TO PAY TAXES OR ASSESSMENTS ON ITS:

(1)      PROPERTIES;

(2)      ACTIVITIES; OR

(3)      REVENUE DERIVED FROM ITS PROPERTIES OR ACTIVITIES.

(B)     PAYMENT REQUIRED ON SALE OR LEASE OF LAND OR FACILITIES.

IF THE CORPORATION SELLS OR LEASES LAND OR FACILITIES TO A PRIVATE
ENTITY, THE LAND OR FACILITIES SHALL BE SUBJECT TO REAL PROPERTY TAXES.

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