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568
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Ch. 73
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LAWS OF MARYLAND
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AUTHORITY SHALL BE SECURED IN A MANNER APPROVED BY THE AUTHORITY.
(G) AMOUNT OF FINANCIAL ASSISTANCE. - FINANCIAL ASSISTANCE
PROVIDED BY THE AUTHORITY FROM THE AUTHORIZED PURPOSE INSURANCE
FUND WITH RESPECT TO ANY ONE TRANSACTION MAY NOT EXCEED THE TOTAL
AGGREGATE AMOUNT OF $1,000,000.
(H) LEVERAGE OF FUND. - THE TOTAL AGGREGATE AMOUNT OF
INSURANCE FROM THE AUTHORIZED PURPOSE INSURANCE FUND MAY NOT
EXCEED AT ANY TIME AN AMOUNT EQUAL TO 5 TIMES THE BALANCE IN THE
AUTHORIZED PURPOSE INSURANCE FUND.
(I) INSURANCE OF AUTHORIZED PURPOSE OBLIGATIONS. - THE
TOTAL AGGREGATE AMOUNT OF INSURANCE FROM THE AUTHORIZED PURPOSE
INSURANCE FUND OF ANY ONE AUTHORIZED PURPOSE OBLIGATION MAY NOT
EXCEED 80 PERCENT OF THE TOTAL OF THE PRINCIPAL OF, REDEMPTION OR
PREPAYMENT PREMIUMS OR PENALTIES ON, AND INTEREST ON SUCH
AUTHORIZED PURPOSE OBLIGATION.
13-133.
THE AUTHORITY MAY AUTHORIZE THE EXECUTIVE DIRECTOR OF THE
AUTHORITY TO APPROVE, ON BEHALF OF THE AUTHORITY, ANY FINANCIAL
ASSISTANCE TO BE PROVIDED FROM THE AUTHORIZED PURPOSE INSURANCE
FUND WHICH DOES NOT EXCEED, WITH RESPECT TO ANY ONE TRANSACTION,
THE TOTAL AGGREGATE AMOUNT OF $50,000. ANY SUCH APPROVAL BY THE
EXECUTIVE DIRECTOR SHALL:
(1) BE SUBJECT TO THE CONCURRENCE OF THE SECRETARY OR
THE CHAIRMAN OF THE AUTHORITY;
(2) COMPLY WITH THE REQUIREMENTS OF THIS SUBTITLE;
AND
(3) BE BINDING UPON THE AUTHORITY.
13-134.
THE AUTHORITY MAY ITSELF APPROVE THE FORM OF ANY AGREEMENT
ENTERED INTO BY THE AUTHORITY UNDER THIS SUBTITLE OR MAY
AUTHORIZE THE EXECUTIVE DIRECTOR OF THE AUTHORITY TO APPROVE THE
FORM OF ANY AGREEMENT ENTERED INTO BY THE AUTHORITY UNDER THIS
SUBTITLE. ANY PAYMENT BY THE AUTHORITY UNDER AN AGREEMENT
ENTERED INTO BY THE AUTHORITY UNDER THIS SUBTITLE SHALL BE MADE
AT THE TIME AND IN THE MANNER THAT THE AUTHORITY, IN ITS SOLE AND
ABSOLUTE DISCRETION, DETERMINES.
13-135.
TRANSACTIONS ARE:
(1) SUBJECT TO THE PROVISIONS OF ARTICLE 49B OF THE
CODE CONCERNING DISCRIMINATION AND UNLAWFUL PRACTICES; AND
(2) NOT SUBJECT TO THE PROVISIONS OF ARTICLE 21, §
3-501 OF THE CODE.
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