§ 30-106. Assets of Fund
West's Annotated Code of MarylandLocal GovernmentEffective: July 1, 2016
Effective: July 1, 2016
MD Code, Local Government, § 30-106
Formerly cited as MD CODE Art. 24, § 16-106
§ 30-106. Assets of Fund
(a)(1) The Board may accept and shall credit to the Fund any gifts, devises, and bequests to be administered in accordance with this title.
(b)(1)(i) If the balance of the Fund falls below $75,000, the Board may assess a fee not to exceed 10 cents per week on each officer and civilian employee of the Department.
(2)(i) On written request of at least 10% of the total number of officers and civilian employees of the Department, the action of the Board requiring an assessment under paragraph (1) of this subsection shall be submitted to a secret ballot vote of the officers and civilian employees of the Department.
(c)(1) The Board shall deposit sufficient money from the Fund in federally insured savings accounts to meet the anticipated benefit payments for each year.
(d)(1) The Fund shall be audited from time to time by an independent certified public accountant that the Board retains.
Credits
Amended by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013; Acts 2016, c. 49, § 1, eff. July 1, 2016.
MD Code, Local Government, § 30-106, MD LOCAL GOVT § 30-106
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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