Section 9-912 - Property. - Maryland Statutes

§ 9-912. Property.
 

(a)  In general.- To carry out the responsibilities and goals of the Department, the Department may acquire, hold, use, improve, and convey property. 

(b)  Gifts and grants.- In addition to any other power under this section and subject to Title 7 of the State Finance and Procurement Article, to carry out the purposes or goals of the Department, the Department may: 

(1) accept a gift or grant; and 

(2) unless the terms of a gift or grant require otherwise, and subject to the approval of the Secretary: 

(i) spend the principal and income of the gift or grant through grants or loans to: 

1. veterans and their families; 

2. public and private programs that support veterans and their families; or 

3. any other programs that the Secretary considers appropriate; or 

(ii) invest all or part of the principal and income in: 

1. general obligations of the State; or 

2. any other security. 

(c)  Deposit of gifts and grants into Maryland Veterans Trust Fund.-  

(1) Deposit of gifts and grants into Maryland Veterans Trust Fund.- Gifts and grants that the Department accepts under subsection (b) of this section shall be deposited in the Maryland Veterans Trust Fund under § 9-913 of this subtitle. 

(2) The Secretary shall adopt regulations to implement a program for gifts and grants made under subsection (b)(2) of this section. 

(d)  Leases.-  

(1) In addition to any other power under this section, the Department may lease any part of the home property for use as a concession or other commercial purpose that is consistent with the purposes of the Department. However, the Department may not lease its property merely for investment purposes. 

(2) Notwithstanding any other law, unless the lease expressly provides for redemption by the tenant, the lease is not subject to redemption. 
 

[An. Code 1957, art. 961/2, §§ 55, 60; 1984, ch. 284, § 1; 1999, chs. 124, 125; 2006, ch. 238; 2009, ch. 742.]