1096

LAWS OF MARYLAND

Ch. 24

Article 2B - Alcoholic Beverages

165.

(a) Profits and reserves shall be accounted for as
follows:

(h) (1) All net profits arising from the operation of
these dispensaries are first applied towards the payment of
any and all sums advanced to or borrowed by the liquor
control board. After these sums are paid, the board is
authorized to create and maintain a reserve fund not to
exceed [$50,000,] $100,000 ON JUNE 1, 1982; $150,000 ON JUNE
1, 1983; $200,000 ON JUNE 1, 1984; AND $250,000 ON JUNE 1,
1985. THE RESERVE FUND IS MAINTAINED to provide adequate
working capital and to meet any losses that may be sustained
by the board in the operation of these dispensaries.

(2) Fifty percent of all net profits in excess
of the above belongs to and is paid over to the County
Commissioners of Worcester County on or before June 1, in
each and every year, and the remaining 50 percent on or
before June 1, each year, is paid to the mayor and city
council of Berlin, Ocean City, Pocomoke City and Snow Hill
in proportion to the net profits on total sales of the
dispensaries situated in each of these municipalities and in
the rural areas outside of those municipalities the net
profits shall go to the general funds of Worcester County.

[(2)] (3) The amounts paid to the mayor and
council of Berlin, Ocean City, Pocomoke City, and Snow Hill
shall be used for general municipal purposes.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act

shall take effect June 1, 1982.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
is declared to be an emergency measure and necessary for the
immediate preservation of the public health and safety and
having been passed by a yea and nay vote supported by
three-fifths of all the members elected to each of the two
Houses of the General Assembly, it shall take effect from
the date of its passage.

Approved April 2, 1982.

CHAPTER 25
(House Bill 1055)