Maryland § 6-612
Full text of Maryland Maryland Code § 6-612, with citation guidance and answers to common questions.
§ 6-612.
(a) The governing body of each nonprofit institution of higher education may create and administer one or more research endowments to receive funding from the Fund.
(b) A research endowment consists of funds distributed by the Authority from the Fund in accordance with § 6–618 of this subtitle and qualified donations.
(c) (1) The governing body of a nonprofit institution of higher education may invest funds deposited into the research endowment in a manner consistent with other institutional endowments managed by the institution.
(2) Any interest or other investment earnings on the funds invested are retained by the nonprofit institution of higher education to be used for the purposes set forth in this subtitle.
(d) Investment earnings accruing to the research endowment of a nonprofit institution of higher education may be expended by the governing body of the institution only for the eligible uses under § 6–614 of this subtitle.
(e) The governing body of a nonprofit institution of higher education is exempt from liability for any loss or decrease in value of the assets or income of a research endowment, unless the losses or decreases in value result from bad faith, gross negligence, or intentional misconduct.
(f) The governing body of a nonprofit institution of higher education shall issue rules for the administration of research endowments that fulfill the purposes and requirements of this subtitle.
Frequently Asked Questions About Maryland § 6-612
What does Maryland Code § 6-612 cover?
Section 6-612 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 6-612?
A common citation format is "Maryland Code § 6-612" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 6-612 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.