Unless otherwise provided by law or its charter, a Maryland
corporation has the general powers, whether or not they are set forth
in its charter, to:
(1) Have perpetual existence, although existence may be limited to a
specified period if the limitation is stated in a charter provision
adopted after May 31, 1908;
(2) Sue, be sued, complain, and defend in all courts;
(3) Have, use, alter, or abandon a corporate seal;
(4) Transact its business, carry on its operations, and exercise the powers
granted by this article in any state, territory, district, and
possession of the United States and in any foreign country;
(5) Make contracts and guarantees, incur liabilities, and borrow money;
(6) Sell, lease, exchange, transfer, convey, mortgage, pledge, and
otherwise dispose of any or all of its assets;
(7) Issue bonds, notes, and other obligations and secure them by mortgage
or deed of trust of any or all of its assets;
(8) Acquire by purchase or in any other manner, and take, receive, own,
hold, use, employ, improve, and otherwise deal with any interest in
real or personal property, wherever located;
(9) Purchase, take, receive, subscribe for, or otherwise acquire, own,
hold, vote, use, employ, sell, mortgage, loan, pledge, or otherwise
dispose of and otherwise use and deal in and with stock and other
interests in and obligations of other Maryland and foreign
corporations, associations, partnerships, and individuals;
(10) Subject to the limitations provided in this article, acquire any of its
own stock, bonds, notes, and other obligations and securities;
(11) Invest its surplus funds, lend money from time to time in any manner
which may be appropriate to enable it to carry on the operations or
fulfill the purposes specified in its charter, and take and hold real
and personal property as security for the payment of funds so invested
or loaned;
(12) Be a promoter, partner, member, associate, or manager of any
partnership, joint venture, trust, or other enterprise;
(13) Make gifts or contributions in cash, other property, or stock or other
securities of the corporation to or for the use of:
(i) The United States, this State, another state of the United States, a
territory, possession, or district of the United States, or any
institution, agency, or political subdivision of any of them; and
(ii) Any governmental or other organization, whether inside or outside the
United States, for religious, charitable, scientific, civic, public
welfare, literary, or educational purposes;
(14) Elect its officers and appoint its agents, define their duties,
determine their compensation, and adopt and carry into effect employee
and officer benefit plans;
(15) Adopt, alter, and repeal bylaws not inconsistent with law or its
charter for the regulation and management of its affairs;
(16) Exercise generally the powers set forth in its charter and those
granted by law; and
(17) Do every other act not inconsistent with law which is appropriate to
promote and attain the purposes set forth in its charter.
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