WILLIAM DONALD SCHAEFER, Governor Ch. 224

(II) PROCEDURES FOR ALLOCATING COMMUNITY
REINVESTMENT ASSISTANCE AND OTHER FUND INVESTMENTS;

(3) APPORTION AMONG FUND TRANSACTIONS THE
OPERATING COSTS INCURRED IN THE ADMINISTRATION OF THE FUND;

(4) WITHIN THE FIRST 90 DAYS AFTER THE BEGINNING OF
EACH FISCAL YEAR, MAKE AN ANNUAL REPORT ON THE ACTIVITIES OF
THE FUND TO THE GOVERNOR:

(I) THE GOVERNOR; AND

(II) SUBJECT TO § 2-1312 OF THE STATE GOVERNMENT
ARTICLE, THE GENERAL ASSEMBLY; AND

(5) (I) APPOINT A LOAN COMMITTEE TO REVIEW AND MAKE
DETERMINATIONS ON SPECIFIC REQUESTS OR CATEGORIES OF
REQUESTS FOR COMMUNITY REINVESTMENT ASSISTANCE TO
COMMUNITY REINVESTMENT PROJECTS.

(II) THE LOAN COMMITTEE MAY REVIEW AND MAKE
RECOMMENDATIONS TO THE BOARD ON OTHER MATTERS AS
DETERMINED BY THE BOARD, INCLUDING ELIGIBILITY GUIDELINES
AND FINANCING POLICIES FOR COMMUNITY REINVESTMENT PROJECTS.

(III) THE LOAN COMMITTEE SHALL BE COMPOSED OF:

1. THE SECRETARY AND THE SECRETARY OF

ECONOMIC AND EMPLOYMENT DEVELOPMENT OR THEIR DESIGNEES AS
EX OFFICIO NONVOTING MEMBERS; AND

2. SUCH VOTING MEMBERS OF THE BOARD OR
THEIR DESIGNEES AS DETERMINED AND APPOINTED BY THE BOARD.

10-107.

THE BOARD MAY USE THE MONEYS ADMINISTERED BY THE FUND
TO:

(1) PROVIDE COMMUNITY REINVESTMENT ASSISTANCE TO
COMMUNITY REINVESTMENT PROJECTS UNDER § 10-109 OF THIS TITLE;

(2) ASSURE A REASONABLE RETURN ON MONEYS HELD BY
THE FUND PRIOR TO BEING DISBURSED FOR COMMUNITY
REINVESTMENT ASSISTANCE;

(3) PAY EXPENSES INCURRED IN THE FORMATION AND
OPERATION OF THE FUND, INCLUDING EXPENSES FOR
ADMINISTRATIVE, LEGAL, ACTUARIAL, AND OTHER SERVICES; AND

(4) REDEEM SHARES OR PORTIONS OF THE INTERESTS IN THE
FUND.

- 825 -