Ch. 467                                    2004 LAWS OF MARYLAND

(3)      AT THE END OF A TERM, AN APPOINTED MEMBER CONTINUES TO
SERVE UNTIL A SUCCESSOR IS APPOINTED AND QUALIFIES.

(4)      A MEMBER WHO IS APPOINTED AFTER A TERM HAS BEGUN SERVES
ONLY FOR THE REST OF THE TERM AND UNTIL A SUCCESSOR IS APPOINTED AND
QUALIFIES.

(E)     THE BOARD SHALL ELECT A CHAIR FROM AMONG ITS MEMBERS.

(F)     THE BOARD MAY ACT WITH AN AFFIRMATIVE VOTE OF NINE MEMBERS.
13-505.

THE CORPORATION SHALL EMPLOY AN EXECUTIVE DIRECTOR WITH
EXPERIENCE AND QUALIFICATIONS RELEVANT TO THE ACTIVITIES AND THE
PURPOSES OF THE CORPORATION.

13-506.

THE ATTORNEY GENERAL SHALL SERVE AS LEGAL ADVISOR TO THE
CORPORATION.

13-507.

THE CORPORATION MAY:

(1)      ADOPT BYLAWS;

(2)      ADOPT A SEAL;

(3)      MAINTAIN OFFICES AT A PLACE IN THE STATE THAT THE
CORPORATION 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 THE PURPOSES OF THE CORPORATION;

(8)      ACQUIRE, PURCHASE, HOLD, LEASE AS A LESSEE, AND USE A
FRANCHISE, PATENT, OR LICENSE AND REAL, PERSONAL, MIXED, OR TANGIBLE OR
INTANGIBLE PROPERTY, OR ANY INTEREST IN PROPERTY;

(9)      SELL, LEASE AS A LESSOR, TRANSFER, LICENSE, SUBLICENSE,
ASSIGN, AND DISPOSE OF ANY PROPERTY OR INTEREST IN PROPERTY, NECESSARY OR
CONVENIENT TO CARRY OUT ITS PURPOSES;

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