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§ 9-305. Use of Fund money

West's Annotated Code of MarylandHousing and Community DevelopmentEffective: May 8, 2020

West's Annotated Code of Maryland
Housing and Community Development (Refs & Annos)
Division I. Housing and Community Programs [Titles 1-11] (Refs & Annos)
Title 9. Community Reinvestment Fund (Refs & Annos)
Subtitle 3. Community Reinvestment Fund (Refs & Annos)
Effective: May 8, 2020
MD Code, Housing & Community Development, § 9-305
§ 9-305. Use of Fund money
Currentness
Required use
(a) The Board shall use the money administered by the Fund to provide community reinvestment assistance in accordance with this title, any other applicable law, and the organizational documents of the Fund.
Optional uses
(b) The Board may use the money that the Fund administers to:
(1) ensure a reasonable return on money held by the Fund before disbursing money for community reinvestment assistance;
(2) pay expenses incurred in its formation and operation, including expenses for administrative, legal, actuarial, and other services; and
(3) redeem interests in the Fund.

Credits

Added by Acts 2005, c. 26, § 2, eff. Oct. 1, 2005. Amended by Acts 2020, c. 628, § 1, eff. May 8, 2020.
MD Code, Housing & Community Development, § 9-305, MD HOUS & CMTY DEV § 9-305
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.
End of Document