§ 3-208. Selling, conveying, assigning, and leasing property; contracts

   Subject to the limitations of § 3-207 of this subtitle, the Trust may improve, sell, convey, assign, lease, or otherwise transfer or dispose of any property, or interest in property, it holds, and enter into any contract, easement, or other legal arrangement incident thereto, including but not limited to, the authority to lease properties for various commercial and residential uses consistent with the purposes of the Trust on terms and conditions the trustees deem appropriate. Any lease the trustees make shall be in immediate furtherance of the purposes of the Trust and not merely for investment purposes. Notwithstanding any provision of law to the contrary, a lease the Trust makes may not be subject to redemption at the option of the tenant, unless expressly provided.

HISTORY: An. Code 1957, art. 41, § 181U; 1973, 1st Sp. Sess., ch. 4, § 1; 2012, ch. 66, § 6.