(a) It is the public policy of the State that endowment funds of public institutions of higher education and gifts, donations, bequests, private endowments, and private grants received by public institutions of higher education or their governing boards, including any income therefrom:
(1) Shall be used in accordance with the wishes of the donors; and
(2) May not be used as a substitute for State General Fund appropriations.
(b) (1) The public institutions of higher education are encouraged to promote private fundraising by strengthening institutional development activities and by maintaining relationships with affiliated foundations.
(2) Affiliated foundations that are independently established for this purpose shall operate subject to policies adopted by the governing boards and be approved for form and legal sufficiency by the Attorney General.
(3) The presidents of the University System of Maryland constituent institutions may establish campus–based foundations. Each foundation need not be approved by the Board of Regents of the University System of Maryland but shall operate subject to policies adopted by the Board of Regents of the University System of Maryland in consultation with the presidents of the University System of Maryland constituent institutions.
(4) An affiliated foundation established and operated under this subsection may not be considered an agency or instrumentality of the State or a unit of the Executive Branch for any purpose.
(5) A financial obligation or liability of an affiliated foundation established and operated under this subsection may not be considered a debt or an obligation of the State or the University System of Maryland.
(6) Sections 5–501 through 5–504 of the General Provisions Article do not bar an official or employee of a public institution of higher education from becoming a director, official, or employee of an independent foundation organized to foster fundraising and provide related services for the benefit of the institution.
(7) No funds shall be accepted from an affiliated foundation by a public institution of postsecondary education unless the fiscal affairs of the affiliated foundation are audited annually by an independent certified public accountant.
Structure Maryland Statutes
Division III - Higher Education
Title 15 - Public Institutions of Higher Education
Subtitle 1 - General Provisions
Section 15-101 - Admission Standards
Section 15-102 - Payments by Credit Card
Section 15-103 - Access to Military Recruiters
Section 15-104 - Use of Endowment Funds, Gifts, Donations, etc.; Fundraising; Foundations
Section 15-105 - Transfer of Personnel Positions
Section 15-106 - Waiver of Tuition and Room and Board
Section 15-106.1 - Tuition Exemption for Foster Care Recipients or Unaccompanied Homeless Youths
Section 15-106.2 - Waiver of Residency Requirement for Public School Teacher
Section 15-106.3 - National Guard Students
Section 15-106.5 - Tuition Increase Prohibited for 2006 Academic Year
Section 15-106.6 - Higher Education Investment Fund
Section 15-107 - Promotion of Economic Interests Through Arrangements With Private Sector
Section 15-108 - Employee Leave Time
Section 15-110 - Printing of Social Security Number
Section 15-111 - Credit Card Marketing and Merchandising Conducted at Higher Education Institutions
Section 15-112 - Sale of College Textbooks
Section 15-113 - Development and Adoption of Guidelines and Policies
Section 15-115 - Pathway Systems to Graduation
Section 15-116 - Financial Aid Dedicated to Community College Transfer Students
Section 15-117 - Standard Number of Credits for Degrees
Section 15-119 - Freedom of Speech and Freedom of Press in School-Sponsored Media
Section 15-120 - Registration of Individuals With Unpaid Balance on Student Account
Section 15-121 - Restrictions on Reduction of Financial Aid
Section 15-122 - Instruction in Substance Use Disorders, Effective Treatment, and Pain Management
Section 15-123 - Active Shooter Drill Requirement
Section 15-124 - Priority Course Registration for Eligible Service Member
Section 15-127 - Tuition, Payment, and Fees
Section 15-128 - Annual Appropriations in Budget -- Allocations to Institutions -- Uses
Section 15-132 - Information Provided on Student Identification Cards