§ 33-308. Distribution of proceeds
West's Annotated Code of MarylandAlcoholic Beverages and CannabisEffective: July 1, 2016
Effective: July 1, 2016
MD Code, Alcoholic Beverages, § 33-308
Formerly cited as MD CODE, Art. 2B, § 15-207
§ 33-308. Distribution of proceeds
(a) The Department shall apply proceeds derived from the operation of dispensaries first toward the repayment of money that was loaned to or borrowed by the Department.
(b) After repayment under subsection (a) of this section, the Department may create and maintain a reserve fund not exceeding $400,000 to:
(c)(1) After the distributions under subsections (a) and (b) of this section, the Department shall distribute on or before June 1 annually:
(2)(i) The Department shall distribute the proceeds due to municipalities listed in paragraph (1)(ii)2 of this subsection and homeowners associations proportionally according to the net profits on total sales derived from the dispensaries in each municipality or area overseen by a homeowners association.
Credits
Added by Acts 2016, c. 41, § 2, eff. July 1, 2016.
MD Code, Alcoholic Beverages, § 33-308, MD AL BEV § 33-308
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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