clear space clear space clear space white space
A
 r c h i v e s   o f   M a r y l a n d   O n l i n e

PLEASE NOTE: The searchable text below was computer generated and may contain typographical errors. Numerical typos are particularly troubling. Click “View pdf” to see the original document.

  Maryland State Archives | Index | Help | Search
search for:
clear space
white space
Session Laws, 1982
Volume 742, Page 975   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>
clear space clear space clear space white space

HARRY HUGHES, Governor

975

(II) DEPOSIT OTHER MONEY THAT THE FACILITY
IS REQUIRED TO DEPOSIT, IN EITHER:

1.  A SEPARATE ACCOUNT IN THE NAME OF
THE RESIDENT; OR

2.  AN ACCOUNT THAT IS DESIGNATED
"GENERAL FUND OF THE PARTICIPATING RESIDENTS OF THE (NAME OF
FACILITY)".

(3) IF THE FACILITY IS OPERATED BY A STATE,
COUNTY, OR MUNICIPAL AGENCY, THE FACILITY MAY ESTABLISH ANY
REQUIRED ACCOUNTS WITH A BANK OR WITH THE STATE, COUNTY, OR
MUNICIPAL TREASURER.

(F)  INTEREST.

(1)  THE ACCOUNTS ESTABLISHED BY FACILITIES SHALL
BE INTEREST BEARING ACCOUNTS.

(2)  ALL INTEREST ON MONEY OF A RESIDENT SHALL BE
CREDITED TO THE RESIDENT.

(3)  A STATE, COUNTY, THE STATE TREASURER OR A
COUNTY OR MUNICIPAL TREASURER SHALL:

(I)  CREDIT INTEREST TO THE TOTAL ACCOUNT
AT A RATE THAT EQUALS THE AVERAGE INTEREST RATE ON SHORT
TERM INVESTMENTS OF THE GOVERNMENT; AND

(II)  ALLOCATE THE INTEREST AMONG EACH
RESIDENT PARTICIPATING IN THE ACCOUNT IN PROPORTION TO THE
RESIDENT'S PARTICIPATION IN THE TOTAL ACCOUNT.

(G)  WITHDRAWALS.

(1)  A RESIDENT MAY GET MONEY AS FOLLOWS:

(I)  IF THE FACILITY HAS THE MONEY IN
POSSESSION, DURING THE BUSINESS HOURS OF THE FACILITY; OR

(II)  IF A BANK OR THE STATE OR A COUNTY OR
MUNICIPAL TREASURER HOLDS THE MONEY, WITHIN 3 BANKING DAYS.

(2)  A RESIDENT MAY GIVE A LICENSED EMPLOYEE OF
THE FACILITY A LIMITED POWER OF ATTORNEY FOR THE ACCOUNT OF
THE RESIDENT. THE DEPARTMENT SHALL PRESCRIBE THE FORM TO BE
USED FOR THIS LIMITED POWER OF ATTORNEY.

(H) SERVICE CHARGE.

A FACILITY MAY:

(1) INCLUDE IN ITS OPERATING COSTS THE COST OF

 

clear space
clear space
white space

Please view image to verify text. To report an error, please contact us.
Session Laws, 1982
Volume 742, Page 975   View pdf image
 Jump to  
  << PREVIOUS  NEXT >>


This web site is presented for reference purposes under the doctrine of fair use. When this material is used, in whole or in part, proper citation and credit must be attributed to the Maryland State Archives. PLEASE NOTE: The site may contain material from other sources which may be under copyright. Rights assessment, and full originating source citation, is the responsibility of the user.


Tell Us What You Think About the Maryland State Archives Website!



An Archives of Maryland electronic publication.
For information contact mdlegal@mdarchives.state.md.us.

©Copyright  October 11, 2023
Maryland State Archives