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§ 10-484. Loans and pledges of assets

West's Annotated Code of MarylandHuman ServicesEffective: October 1, 2007

West's Annotated Code of Maryland
Human Services (Refs & Annos)
Title 10. Department of Aging (Refs & Annos)
Subtitle 4. Continuing Care (Refs & Annos)
Part VIII. Delinquency Proceedings (Refs & Annos)
Effective: October 1, 2007
MD Code, Human Services, § 10-484
§ 10-484. Loans and pledges of assets
Currentness
In general
(a) To facilitate the rehabilitation, liquidation, conservation, or dissolution of a provider under this subtitle, the Secretary, subject to the approval of the court, may:
(1) borrow money;
(2) execute, acknowledge, and deliver notes or other evidences of indebtedness for the loan;
(3) secure the repayment of the loan by the mortgage, pledge, assignment, or transfer in trust of all or part of the property of the provider; and
(4) take any other action necessary and proper to consummate the loan and to provide for its repayment.
Obligation of Secretary
(b) The Secretary is not obligated personally or in an official capacity to repay a loan made under this section.

Credits

Added by Acts 2007, c. 3, § 2, eff. Oct. 1, 2007.
MD Code, Human Services, § 10-484, MD HUMAN SERV § 10-484
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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