Md. Code, State Government § 9-20A-09
This is the official text of Md. Code, State Government § 9-20A-09, part of Maryland’s Code, State Government — covers the structure and operation of Maryland state government.
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§9–20A–09.
Official statutory text
(a) The Administration may use the Fund to enhance the credit of a financing offered by a bank or other financial institution for a project.
(b) A credit enhancement issued in accordance with subsection (a) of this section shall:
(1) carry out the purpose of the Program in a manner the Administration considers appropriate;
(2) facilitate financing of at least one project of a local jurisdiction, nonprofit organization, or eligible business; and
(3) be offered only to a bank or other financial institution in good standing with the State Department of Assessments and Taxation that is:
(i) incorporated in the State; or
(ii) registered to do business in the State.
(c) The Administration may assess a reasonable fee to a participating bank or financial institution for the administration of this section.
(d) The Administration shall adopt regulations to carry out this section.
(b) A credit enhancement issued in accordance with subsection (a) of this section shall:
(1) carry out the purpose of the Program in a manner the Administration considers appropriate;
(2) facilitate financing of at least one project of a local jurisdiction, nonprofit organization, or eligible business; and
(3) be offered only to a bank or other financial institution in good standing with the State Department of Assessments and Taxation that is:
(i) incorporated in the State; or
(ii) registered to do business in the State.
(c) The Administration may assess a reasonable fee to a participating bank or financial institution for the administration of this section.
(d) The Administration shall adopt regulations to carry out this section.
Status: in_force · Read it on the official government site
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