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§ 12-824.1. Elevator Safety Review Board Fund

West's Annotated Code of MarylandPublic SafetyEffective: June 1, 2019

West's Annotated Code of Maryland
Public Safety (Refs & Annos)
Title 12. Building and Material Codes; Other Safety Provisions (Refs & Annos)
Subtitle 8. Elevator Safety (Refs & Annos)
Part III. Elevator Safety Review Board (Refs & Annos)
Effective: June 1, 2019
MD Code, Public Safety, § 12-824.1
§ 12-824.1. Elevator Safety Review Board Fund
Currentness
Fund defined
(a) In this section, “Fund” means the Elevator Safety Review Board Fund.
In general
(b) There is an Elevator Safety Review Board Fund.
Purpose of Fund
(c) The purpose of the Fund is to cover the actual documented direct and indirect costs of fulfilling the statutory and regulatory duties of the Board.
Administration of Fund
(d) The Commissioner shall administer the Fund.
Nature of Fund
(e)(1) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
(2) The State Treasurer shall hold the Fund separately and the Comptroller shall account for the Fund.
Contents of Fund
(f) The Fund consists of:
(1) revenue distributed to the Fund under this subtitle;
(2) money appropriated in the State budget to the Fund;
(3) investment earnings of the Fund; and
(4) any other money from any other source accepted for the benefit of the Fund.
Direct and indirect costs of Board
(g) The Fund may be used only to cover the actual documented direct and indirect costs of fulfilling the statutory and regulatory duties of the Board.
Investment of Fund moneys
(h)(1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
(2) Any investment earnings of the Fund shall be paid into the Fund.
Expenditures from Fund
(i) Expenditures from the Fund may be made only in accordance with the State budget.
Reversion of balance to General Fund
(j) Any balance in the Fund at the end of June 30 of each fiscal year in excess of 10% of the actual expenses of operating the Elevator Safety Review Board shall revert to the General Fund of the State.
Audits
(k) The Legislative Auditor shall audit the accounts and transactions of the Fund as provided in § 2-1220 of the State Government Article.

Credits

Added by Acts 2008, c. 484, § 1, eff. Oct. 1, 2008. Amended by Acts 2019, c. 6, § 1, eff. June 1, 2019.
MD Code, Public Safety, § 12-824.1, MD PUBLIC SAFETY § 12-824.1
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document