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§ 9-303. Organization

West's Annotated Code of MarylandHousing and Community Development

West's Annotated Code of Maryland
Housing and Community Development (Refs & Annos)
Division I. Housing and Community Programs [Titles 1-11] (Refs & Annos)
Title 9. Community Reinvestment Fund (Refs & Annos)
Subtitle 3. Community Reinvestment Fund (Refs & Annos)
MD Code, Housing & Community Development, § 9-303
§ 9-303. Organization
Currentness
Form of entity
(a) The Board shall determine the form of the independent legal entity constituting the Fund in accordance with the organizational documents of the Fund.
Contributor's investment return
(b) In accordance with the organizational documents of the Fund, an entity contributing money to the Fund may be entitled to receive:
(1) interests in the Fund in proportion to the entity's contribution, in an amount and in a form that the Board determines; and
(2) a return on its contribution to the Fund based on:
(i) the entity's share; and
(ii) a fixed rate of return or the amount of any dividends, royalties, or other earnings of the Fund, or on another formula and in a form that the Board determines.

Credits

Added by Acts 2005, c. 26, § 2, eff. Oct. 1, 2005.
MD Code, Housing & Community Development, § 9-303, MD HOUS & CMTY DEV § 9-303
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