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§ 2-106.7. State Commission of Real Estate Appraisers and Home Inspectors Fund

West's Annotated Code of MarylandBusiness RegulationEffective: July 1, 2012

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 2. Maryland Department of Labor (Refs & Annos)
Effective: July 1, 2012
MD Code, Business Regulation, § 2-106.7
§ 2-106.7. State Commission of Real Estate Appraisers and Home Inspectors Fund
Definitions
(a)(1) In this section the following words have the meanings indicated.
(2) “Commission” means the State Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors.
(3) “Fund” means the State Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors Fund.
Nature of Fund
(b)(1) There is a State Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors Fund in the Department.
(2) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
Contents of Fund
(c) The Fund consists of fees collected by the Commission and distributed to the Fund under Title 16 of the Business Occupations and Professions Article.
Use of Fund
(d) The Fund shall be used to cover the Commission's actual documented direct and indirect costs of fulfilling the statutory and regulatory duties of the Commission.
Administration of Fund
(e) The Secretary or a designee of the Secretary shall administer the Fund.
Audits of Fund
(f) The Legislative Auditor shall audit the accounts and transactions of the Fund as provided in § 2-1220 of the State Government Article.
Unspent funds in excess of $100,000
(g) At the end of each fiscal year, any unspent and unencumbered portion of the Fund in excess of $100,000 shall revert to the General Fund of the State.
Investment earnings
(h) Any investment earnings of the Fund shall be credited to the General Fund.

Credits

Added by Acts 2011, c. 269, § 1, eff. July 1, 2011; Acts 2011, c. 270, § 1, eff. July 1, 2011. Amended by Acts 2012, c. 366, § 1, eff. July 1, 2012.
MD Code, Business Regulation, § 2-106.7, MD BUS REG § 2-106.7
Current through all legislation from the 2022 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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