Ch. 511 LAWS OF MARYLAND

(B) THE SECRETARY MAY DELEGATE THE AUTHORITY TO
APPROVE LOANS TO ANY BOARD WHICH EXISTS OR WHICH MAY BE
CREATED WITHIN THE DEPARTMENT.

13-126.

(A) ALL RECEIPTS DESIGNATED FOR THE FUND SHALL BE PLACED
IN THE FUND INCLUDING:

(1) MONEYS APPROPRIATED BY THE STATE TO THE FUND;

(2) PREMIUMS, FEES, INTEREST PAYMENTS, AND PRINCIPAL
PAYMENTS ON LOANS;

(3) INCOME FROM INVESTMENTS THAT THE STATE
TREASURER, ON INSTRUCTION OF THE DEPARTMENT, MAKES FOR THE
DEPARTMENT UNDER THIS PART;

(4) PROCEEDS FROM THE SALE, DISPOSITION, LEASE, OR
RENTAL OF COLLATERAL RELATING TO LOANS MADE UNDER THE
FUND;

(5) ANY OTHER MONEYS MADE AVAILABLE TO THE FUND;
AND

(6) ANY EXCESS FUNDS DEPOSITED BY THE MARYLAND
INDUSTRIAL DEVELOPMENT FINANCING AUTHORITY FROM THE BOND
INSURANCE FUND OR THE AUTHORIZED PURPOSE INSURANCE FUND
UNDER §§ 13-120(F) AND 13-121(F) OF THIS SUBTITLE.

(B) THE FUND SHALL BE USED TO PAY ALL EXPENSES AND
DISBURSEMENTS AUTHORIZED BY THE DEPARTMENT FOR
ADMINISTERING THE FUND, AND FINANCING THE EXPANSION OR
DEVELOPMENT OF THE SEAFOOD PROCESSING INDUSTRY AND
AQUACULTURE INDUSTRY IN THIS STATE, INCLUDING, BY WAY OF
EXAMPLE:

(1) ADVANCES OF LOAN PROCEEDS FOR LOANS; AND

(2) EXPENSES FOR ADMINISTRATIVE, LEGAL, ACTUARIAL,
TECHNICAL ASSISTANCE, AND OTHER SERVICES.

(C) LOANS MADE UNDER THIS PART SHALL BE SUBJECT TO THE
FOLLOWING REQUIREMENTS:

(1) AN APPLICANT SHALL BE LOCATED IN MARYLAND;

(2) AN APPLICANT SHALL BE ENGAGED IN THE
AQUACULTURE INDUSTRY OR ONE OF THE FOLLOWING FUNCTIONS OF
THE SEAFOOD PROCESSING INDUSTRY:

(I) SHIPPING;

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