Terms Used In Maryland Code, STATE FINANCE AND PROCUREMENT 10A-402

  • including: means includes or including by way of illustration and not by way of limitation. See
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
(a) Except as provided in subsection (b) of this section, a public-private partnership agreement may not exceed 50 years, including all renewals and extensions.

(b) The Board of Public Works may:

(1) waive the prohibition set forth in subsection (a) of this section if the Board determines that the reporting agency has demonstrated sufficient reason for the agreement to have a longer term; and

(2) waive the prohibition set forth in subsection (a) of this section at any point during the presolicitation, proposal review, or agreement negotiations process.

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