Md. Code, Local Government § 16-107
This is the official text of Md. Code, Local Government § 16-107, part of Maryland’s Code, Local Government — governs the powers and operations of Maryland counties and municipalities.
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§16–107.
Official statutory text
(a) In this section, “reserve account” means a continuing, nonlapsing account or fund in which money is retained to support appropriations that have become unfunded.
(b) By ordinance or local law, after notice and hearing, a county may establish one or more reserve accounts.
(c) An ordinance or a local law that establishes a reserve account shall provide for:
(1) requirements for the accumulation of a fixed amount of money, a percentage of designated revenues, or both;
(2) the circumstances under which the account may be used; and
(3) the use of any earnings on the account.
(b) By ordinance or local law, after notice and hearing, a county may establish one or more reserve accounts.
(c) An ordinance or a local law that establishes a reserve account shall provide for:
(1) requirements for the accumulation of a fixed amount of money, a percentage of designated revenues, or both;
(2) the circumstances under which the account may be used; and
(3) the use of any earnings on the account.
Status: in_force · Read it on the official government site
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