HARRY HUGHES, Governor

3821

PART VI. REMEDIES OF AUTHORITY

13-234.

If an applicant OR FINANCIAL INSTITUTION violates any
provision of the loan [agreement] DOCUMENTS or ceases to
meet the requirements of this subtitle, on reasonable notice
to the applicant OR FINANCIAL INSTITUTION, the Authority
may:

(1)  Withhold from the applicant further loan
payments until the applicant complies with the [agreement]
LOAN DOCUMENTS or requirements; [and]

(2)  WITHHOLD FROM THE FINANCIAL INSTITUTION
FURTHER INTEREST SUBSIDY PAYMENTS UNTIL THE FINANCIAL
INSTITUTION COMPLIES WITH THE LOAN DOCUMENTS OR
REQUIREMENTS; AND

[(2)] (3) Exercise any other remedy for which
the loan [agreement provides] DOCUMENTS PROVIDE.

SECTION 2. AND BE IT FURTHER ENACTED, That the
Secretary of the Department of Economic and Community
Development shall file an evaluation report respecting the
new special fund financial assistance program established by
Part V, Title 13, of the Financial Institutions Article with
the General Assembly on the first day of the 1985 Session in
order to assist the General Assembly in making a
determination as to whether any new agreement for special
fund financial assistance should be made after June 30,
1985. It is the intent of the General Assembly that after
June 3.0, 1985, no further appropriation of State funds for
the special fund financial assistance program be provided
until the evaluation report prepared by the Secretary of the
Department of Economic and Community Development is reviewed
by the appropriate committees of the General Assembly and
the committees submit a report on the program to the General
Assembly.

SECTION 2 3. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1982.

Approved June 1, 1982.

CHAPTER 735
(House Bill 1628)
AN ACT concerning