§ 12-108. Benefit of net earnings
West's Annotated Code of MarylandEconomic DevelopmentEffective: October 1, 2008
West's Annotated Code of Maryland
Economic Development (Refs & Annos)
Division II. Independent and Regional Development Units and Resources [Titles 9-End] (Refs & Annos)
Title 12. Local Development Authorities and Resources (Refs & Annos)
Subtitle 1. Economic Development Revenue Bond Act (Refs & Annos)
Effective: October 1, 2008
MD Code, Economic Development, § 12-108
§ 12-108. Benefit of net earnings
Except as necessary to pay debt service or implement the public purposes or programs of the incorporating county or municipal corporation, the net earnings of an authority may benefit only the incorporating county or municipal corporation and may not benefit any person.
Credits
Added by Acts 2008, c. 306, § 2, eff. Oct. 1, 2008.
MD Code, Economic Development, § 12-108, MD ECON DEV § 12-108
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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