Home Table of Contents

§ 8.3-504. Management of fund; uses

West's Annotated Code of MarylandLabor and EmploymentEffective: June 1, 2023

West's Annotated Code of Maryland
Labor and Employment
Title 8.3. Family and Medical Leave Insurance Program (Refs & Annos)
Subtitle 5. The Family and Medical Leave Insurance Fund (Refs & Annos)
Effective: June 1, 2023
MD Code, Labor and Employment, § 8.3-504
§ 8.3-504. Management of fund; uses
Currentness
Custodian
(a)(1) The State Treasurer is custodian of the Fund.
(2) The State Treasurer shall manage the Fund in accordance with regulations that the Secretary adopts.
Financial institution
(b) Under the direction of the Secretary, the State Treasurer shall establish the Fund account in any financial institution in which the General Fund of the State may be deposited.
Immediate deposit
(c) On receipt of any money payable to the Fund, the Secretary shall ensure immediate deposit of the money into the Fund account as required by the State Treasurer.
Uses
(d) In accordance with regulations that the Secretary adopts, money in the Fund account:
(1) shall be used to pay benefits under this title; and
(2) may be used to pay for:
(i) the public education program carried out under § 8.3-403(a)(4) of this title; and
(ii) any costs associated with the initial implementation and ongoing administration of this title.

Credits

Added by Acts 2022, c. 48, § 1, eff. Jan. 1, 2023. Amended by Acts 2023, c. 258, § 1, eff. June 1, 2023; Acts 2023, c. 259, § 1, eff. June 1, 2023.
MD Code, Labor and Employment, § 8.3-504, MD LABOR & EMPLY § 8.3-504
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.
End of Document