Md. Code, Public Utilities § 22-109
This is the official text of Md. Code, Public Utilities § 22-109, part of Maryland’s Code, Public Utilities — regulates utility companies.
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§22–109.
Official statutory text
To ensure the prompt payment of interest and provision for the payment of the principal on bonds issued under this subtitle:
(1) the prompt and proper performance of the acts required under §§ 22–106 and 22–108 of this subtitle is specially enjoined; and
(2) a person who is required to act under §§ 22–106 and 22–108 of this subtitle:
(i) shall perform the acts required under those sections;
(ii) shall pay over any funds as required under those sections; and
(iii) may not use any part of the funds for any other purpose than for the payment of principal and interest on the bonds.
(1) the prompt and proper performance of the acts required under §§ 22–106 and 22–108 of this subtitle is specially enjoined; and
(2) a person who is required to act under §§ 22–106 and 22–108 of this subtitle:
(i) shall perform the acts required under those sections;
(ii) shall pay over any funds as required under those sections; and
(iii) may not use any part of the funds for any other purpose than for the payment of principal and interest on the bonds.
Status: in_force · Read it on the official government site
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