, ROBERT L. EHRLICH, JR., Governor                             Ch. 273

subtitle, and subject to the provisions of Title 11 of this article and any other
restrictions [expressly] imposed by law BY SPECIFIC REFERENCE TO THE
UNIVERSITY or by any trust agreement involving a pledge of property or money, the
Board of Regents:

(1)     Is responsible for the management of Morgan State University and
has all the powers, rights, and privileges that go with that responsibility, including
the powers and duties set forth in this section;

(2)     May not be superseded in its authority by any other State agency or
office in managing the affairs of Morgan State University; and

(3)     Shall have all the powers of a Maryland corporation which are not
[expressly] limited by law BY SPECIFIC REFERENCE TO THE UNIVERSITY.

(B) IN ADDITION TO THE POWERS SET FORTH ELSEWHERE IN THIS SUBTITLE,
THE UNIVERSITY MAY:

(1) EXERCISE ALL THE CORPORATE POWERS GRANTED MARYLAND
CORPORATIONS UNDER THE MARYLAND GENERAL CORPORATION LAW;

(2) ADOPT AND ALTER AN OFFICIAL SEAL;

(3) MAINTAIN AN OFFICE AT THE PLACE THE BOARD OF REGENTS MAY
DESIGNATE;

(4) ENTER INTO CONTRACTS OF ANY KIND, AND EXECUTE ALL
INSTRUMENTS NECESSARY OR CONVENIENT WITH RESPECT TO ITS CARRYING OUT
THE POWERS IN THIS SUBTITLE TO ACCOMPLISH THE PURPOSES OF THE
UNIVERSITY;

(5) ACQUIRE, HOLD, LEASE, USE, ENCUMBER, TRANSFER, EXCHANGE, OR
DISPOSE OF REAL AND PERSONAL PROPERTY; AND

(6) IN ADDITION TO THE POWERS SET FORTH IN TITLE 19 OF THIS
ARTICLE AND SUBJECT TO THE APPROVAL OF THE BOARD OF PUBLIC WORKS,
BORROW MONEY FROM ANY SOURCE FOR ANY CORPORATE PURPOSE, INCLUDING
WORKING CAPITAL FOR ITS OPERATIONS, RESERVE FUNDS OR INTEREST, AND
MORTGAGE, PLEDGE, OR OTHERWISE ENCUMBER THE PROPERTY OR FUNDS OF THE
UNIVERSITY, AND CONTRACT WITH OR ENGAGE THE SERVICES OF ANY PERSON IN
CONNECTION WITH ANY FINANCING, INCLUDING FINANCIAL INSTITUTIONS,
ISSUERS OF CREDIT, OR INSURERS.

(g) (3) (i) Notwithstanding any other provision of law, the Board of
Regents may create any position to the extent that the cost of the position, including
any fringe benefit costs, is funded from existing funds.

(ii) Nothing in this paragraph may be construed to require any
additional State General Fund support.

(iii) By September 1 of each year, the Board shall submit an annual
position accountability report to the Department of Budget and Management, the
Department of Legislative Services, and the Maryland Higher Education Commission

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