Ch. 321 LAWS OF MARYLAND

(H) "REHABILITATION PROJECT" HAS THE MEANING STATED
UNDER § 2-302 OF THIS ARTICLE.

(I) "SHARED LIVING UNIT FACILITY" MEANS A BUILDING WHICH
WILL ACCOMODATE 2 OR MORE PERSONS OR FAMILIES WHERE SOME OR
ALL OF THE LIVING, DINING, KITCHEN, OR SANITARY FACILITIES ARE
SHARED.

[3-202.] 3-203.

(A) The Department shall manage and supervise the Maryland Housing Fund.
[A fund shall be deposited with the State Treasurer to be held in such banks as he
deems proper and shall be accounted for by the State Comptroller in a special account
known as the "Maryland Housing Fund". This Fund shall be invested and reinvested in
the same manner as other State funds.]

(B) [These funds] MONEYS IN THE MARYLAND HOUSING FUND
ACCOUNT shall be used:

(1) [to] TO insure [mortgages] LOANS accepted by the Department
under the provisions of this subtitle[, or];

(2) [to] TO insure bonds or notes issued to finance any project that is
eligible for insurance under the provisions of this subtitle[. This Fund shall be managed
in a manner which maximizes assistance to local jurisdictions in insuring mortgages
under the provisions of this section];

(3) TO GUARANTEE ANY SECURITIES, EVIDENCES OF
INDEBTEDNESS, OR OTHER FORMS OF OBLIGATION BACKED BY
MORTGAGES; AND

(4) TO PROVIDE OTHER FORMS OF CREDIT ENHANCEMENT
AUTHORIZED BY THIS SUBTITLE.

(C) THE DEPARTMENT SHALL ESTABLISH PREMIUMS AND FEES
FOR INSURANCE OF LOANS, BONDS, NOTES, AND OTHER FORMS OF
CREDIT ENHANCEMENT OFFERED UNDER THIS SUBTITLE, IN AN
AMOUNT CALCULATED TO COVER ADMINISTRATIVE COSTS AS WELL AS
ANTICIPATED PAYMENTS DUE TO DEFAULTS ON LOANS, BONDS, OR
NOTES CAUSING INSURED LOSSES TO THE LENDERS, BONDHOLDERS, OR
NOTEHOLDERS OR LOSSES OR OTHER LIABILITIES INCURRED IN
CONNECTION WITH ANY CREDIT ENHANCEMENT PROVIDED BY THE
DEPARTMENT.

[3-203.] 3-204.

The Department, in it's own name or in the name of the Maryland Housing Fund,
may:

(1) [insure] INSURE OR GUARANTEE upon such terms as it may
prescribe any mortgage OR POOL OF MORTGAGES offered or any bonds or notes

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