Section 9-907 - Articles of incorporation - Law; contents; execution; approval. - Maryland Statutes

§ 9-907. Articles of incorporation - Law; contents; execution; approval.
 

(a)  Law to include articles of incorporation.- Each incorporating political subdivision shall include in the law that creates an authority the articles of incorporation for the authority. 

(b)  Contents of articles of incorporation.- The articles of incorporation shall include: 

(1) An appropriate name for the authority, which includes the word "authority"; 

(2) A statement that the authority is formed under this subtitle; 

(3) The name of each incorporating political subdivision; 

(4) The name, address, and term of office for each member of the 1st board of directors of the authority; 

(5) If the governing body of any incorporating political subdivision determines that its members are the board of directors of the authority, a statement to this effect; and 

(6) The purpose of the authority. 

(c)  Execution and filing of articles.- The officers of each incorporating political subdivision shall sign, acknowledge, and file the articles of incorporation for record with the State Department of Assessments and Taxation. 

(d)  Approval by State Department of Assessments and Taxation.-  

(1) The State Department of Assessments and Taxation shall: 

(i) Receive the articles of incorporation; 

(ii) Mark the date and time of receipt to the articles; and 

(iii) Issue a certificate of approval for any articles that comply with this subtitle. 

(2) When the State Department of Assessments and Taxation issues a certificate of approval, the authority: 

(i) Begins to exist as a public body politic and corporate; 

(ii) Is conclusively considered to be lawfully and properly created; 

(iii) May exercise its powers under this subtitle; and 

(iv) Has the right to exist as a corporation for a term of 50 years. 
 

[1985, ch. 173, § 2.]