§ 2-120. Non-Depository Special Fund
West's Annotated Code of MarylandFinancial InstitutionsEffective: July 1, 2023
Effective: July 1, 2023
MD Code, Financial Institutions, § 2-120
§ 2-120. Non-Depository Special Fund
(b) There is a Non-Depository Special Fund that consists of:
(c) Notwithstanding subsection (b) of this section:
(d) The purpose of the Fund is to cover the direct and indirect costs of fulfilling the statutory and regulatory duties of the Commissioner and the Board related to regulated persons.
(e)(1) The annual State budget shall include the costs and expenses of the Commissioner and the Board relating to subsection (d) of this section.
(g)(1)(i) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
(h)(1) In order to ensure the Fund contains sufficient amounts to achieve its purpose under subsection (d) of this section, the Commissioner may impose an annual assessment on any licensed person not more than once each year.
Credits
Added by Acts 2023, c. 567, § 1, eff. July 1, 2023.
MD Code, Financial Institutions, § 2-120, MD FIN INST § 2-120
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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