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§ 7-611. Amount and terms of loan guarantees and interest subsidies

West's Annotated Code of MarylandHuman ServicesEffective: July 1, 2008

West's Annotated Code of Maryland
Human Services (Refs & Annos)
Title 7. Individuals with Disabilities (Refs & Annos)
Subtitle 6. Assistive Technology Guaranteed Loan Program (Refs & Annos)
Effective: July 1, 2008
MD Code, Human Services, § 7-611
§ 7-611. Amount and terms of loan guarantees and interest subsidies
Determination of amount and terms
(a) Except as provided in this subtitle, the Board and lender jointly shall determine the amount and terms of the guarantee of the loan or the subsidy of loan interest.
Maximum loan guarantee
(b) The total aggregate amount of a loan guarantee may be up to 100% of the loan.
Aggregate loan guarantees not to exceed balance in Fund
(c) The total aggregate amount of the loan guarantees to be provided from the Fund in any given year shall be set annually by the Board in accordance with the requirements of the banks underwriting the loans at any given time.

Credits

Added by Acts 2007, c. 3, § 2, eff. Oct. 1, 2007. Amended by Acts 2008, c. 62, § 1, eff. July 1, 2008.
MD Code, Human Services, § 7-611, MD HUMAN SERV § 7-611
Current through legislation effective through June 1, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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