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§ 3-2A-04. Investment of excess funds, reporting requirements

West's Annotated Code of MarylandNatural Resources

West's Annotated Code of Maryland
Natural Resources
Title 3. Environmental Programs (Refs & Annos)
Subtitle 2a. Land Trust Grant Fund (Refs & Annos)
MD Code, Natural Resources, § 3-2A-04
§ 3-2A-04. Investment of excess funds, reporting requirements
Excess money
(a) If, at any time, the amount of money in the Grant Fund exceeds the amount that the Trust considers necessary currently to meet its expenses and obligations, the Department shall deposit the excess money with the State Treasurer, who shall invest the money in the manner provided for by law.
Annual reports
(b) Annually, the State Treasurer shall report to the Department as to:
(1) The status of the money invested under this subtitle;
(2) The market value of the assets in the Grant Fund as of the date of the report; and
(3) The interest received from investments for the Grant Fund during the period covered by the report.

Credits

Added by Acts 1990, c. 63, § 1, eff. July 1, 1990.
MD Code, Natural Resources, § 3-2A-04, MD NAT RES § 3-2A-04
Current with all legislation from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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