HARRY HUGHES, Governor                                  3811

13-213.

The Authority shall:

(1)  Keep proper records of its accounts; [and]

(2)  KEEP SEPARATE RECORDS FOR THE GENERAL FUND
AND THE SPECIAL FUND; AND

[(2)] (3) Make an annual report on its condition
and operations to the Governor.

Part III. Small Business Development Financing Fund AND
SMALL BUSINESS DEVELOPMENT SPECIAL LONG-TERM FINANCING FUND

13-219.

The Authority shall use the GENERAL fund as a
nonlapsing, revolving fund, for carrying out the provisions
of §§ 13-227 THROUGH 13-233 OF this subtitle.

13-220.

(a)  All of the FOLLOWING receipts of the Authority
shall be placed in the GENERAL fund, including:

(1)  Repayments of principal of and interest on
direct loans MADE PURSUANT TO § 13-230 OF THIS SUBTITLE;

(2)  Premiums for guaranteeing loans PURSUANT TO
§ 13-228 OF THIS SUBTITLE; [and]

(3)  PREMIUMS FOR GUARANTEEING EQUITY INVESTMENT
PURSUANT TO § 13-229 OF THIS SUBTITLE;

(4)  PROCEEDS FROM THE SALE, DISPOSITION, LEASE,
OR RENTAL OF COLLATERAL BY THE AUTHORITY RELATING TO DIRECT
LOANS OR LOAN GUARANTEES MADE PURSUANT TO §§ 13-228 OR
13-230 OF THIS SUBTITLE; AND

[(3)] (5) Income from investments ALLOCABLE TO
THE GENERAL FUND that the State Treasurer, on instruction of
the Authority, makes for the Authority under § 13-222 of
this subtitle.

(b)  The Authority shall use the GENERAL fund to pay
all of the FOLLOWING expenses and disbursements of the
Authority[, including]:

(1)  Direct loans MADE PURSUANT TO § 13-230 OF
THIS SUBTITLE;

(2)  Guaranty payments required by [loan]
defaults PURSUANT TO §§ 13-228 OR 13-229 OF THIS SUBTITLE;
and