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ROBERT L. EHRLICH, JR., Governor
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Ch. 523
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(2) expenditures to manage, maintain, and enhance the value of the
assets of the Maryland Prepaid College Trust in accordance with the comprehensive
investment plan adopted by the College Savings Plans of Maryland Board under §
18-1906 of the Education Article.
SUBTITLE 4. POLICIES, PROCEDURES, AND INTERNAL OVERSIGHT FOR EXEMPTIONS
POLICIES AND PROCEDURES FOR EXEMPT UNITS.
12-401.
(A)(1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS SUBSECTION, EACH
UNIT WITH AN EXEMPTION FROM ANY PROVISION OF DIVISION II OF THIS ARTICLE
SHALL HAVE WRITTEN POLICIES AND PROCEDURES FOR THE EXEMPTED UNIT'S
PROCUREMENTS.
(2) THIS SECTION DOES NOT APPLY TO:
(I) § 11-203(A)(1)(III) OF THIS ARTICLE; OR
(II) § 11-203(A)(2) OF THIS ARTICLE; OR
(III) § 11-203(E) OF THIS ARTICLE.
(B) WRITTEN POLICIES AND PROCEDURES SHALL INCLUDE:
(1) THE TYPES OF PROCUREMENT EXEMPTED FROM DIVISION II OF THIS
ARTICLE;
(2) THE METHOD METHODS OF PROCUREMENT TO BE USED FOR EACH
TYPE OF PROCUREMENT PROCUREMENTS PROVIDED UNDER PARAGRAPH ITEM (1) OF
THIS SUBSECTION;
(3) THE ADVERTISING REQUIREMENTS FOR EACH TYPE OF
PROCUREMENT PROVIDED UNDER PARAGRAPH ITEM (1) OF THIS SUBSECTION;
(4) PROCUREMENT GOALS, INCLUDING MINORITY BUSINESS
ENTERPRISE PARTICIPATION, FOR EACH TYPE OF PROCUREMENT PROVIDED UNDER
PARAGRAPH ITEM (1) OF THIS SUBSECTION; AND
(5) THE APPROVAL PROCESS FOR EACH TYPE OF PROCUREMENT
PROVIDED UNDER PARAGRAPH ITEM (1) OF THIS SUBSECTION.
(C) (1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS SUBSECTION, AT
THE BEGINNING OF EACH FISCAL YEAR, EACH UNIT SHALL SUBMIT WRITTEN
POLICIES AND PROCEDURES TO THE BOARD FOR REVIEW AT THE BEGINNING OF
EACH FISCAL YEAR AS REQUIRED BY SUBSECTIONS (A) AND (B) OF THIS SECTION.
(2) UNITS THAT ARE GOVERNED BY THEIR OWN BOARD, COMMISSION,
COUNCIL, OR AUTHORITY SHALL SUBMIT THEIR POLICIES AND PROCEDURES AS
REQUIRED BY SUBSECTIONS (A) AND (B) OF THIS SECTION TO THEIR BOARD,
COMMISSION, COUNCIL, OR AUTHORITY FOR APPROVAL.
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- 3073 -
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