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§ 13-804. Reporting requirements

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 13. State-Operated Financial Programs
Subtitle 8. Allocation of Private Activity Bond Authority (Refs & Annos)
MD Code, Financial Institutions, § 13-804
§ 13-804. Reporting requirements
Currentness
Annual reports to Secretary
(a) On September 15 of each calendar year, each issuer shall submit a report, approved in writing by its bond counsel, to the Secretary containing the following information:
(1) The amount of the total allocation of the Maryland State ceiling allocated in that year to the issuer prior to September 15;
(2) The amount and type of bonds issued in that year pursuant to the total allocation to the issuer in that year;
(3) The amount and type of bonds not issued, but anticipated to be issued on or before September 30 of that year, pursuant to the total allocation to the issuer in that year; and
(4) Any other information that the Secretary may request.
Executed information report filed with federal Internal Revenue Service
(b)(1) Each issuer shall file with the Secretary a copy of each executed information report required by § 149(e)(2) of the Code to be filed with the federal Internal Revenue Service.
(2) Each such information report shall be filed by the earlier of 10 business days following the date of the issuance of the bonds or December 30 of the calendar year in which the bonds are issued. The Secretary may grant an extension of time for the filing of any such information report.
(3) Any bonds for which such executed information report is not filed with the Secretary in accordance with this subsection shall be deemed not to have received an allocation of the Maryland State ceiling.
Additional reports and information upon request
(c) Each issuer shall provide the Secretary with such additional reports and other information regarding its allocation of the Maryland State ceiling and the use thereof as the Secretary may request.

Credits

Added by Acts 1987, c. 598, § 1, eff. Jan. 1, 1988.
MD Code, Financial Institutions, § 13-804, MD FIN INST § 13-804
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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