HARRY HUGHES, Governor                                     2475

13-234.

THERE IS A MARYLAND SMALL BUSINESS SURETY BOND GUARANTEE
PROGRAM ADMINISTERED BY THE MARYLAND SMALL BUSINESS DEVELOPMENT
FINANCING AUTHORITY.

(A) IN PART VI OF THIS SUBTITLE THE FOLLOWING WORDS HAVE
THE MEANINGS INDICATED.

(B) "AUTHORITY" MEANS THE MARYLAND SMALL BUSINESS
DEVELOPMENT FINANCING AUTHORITY.

(C) "FUND" MEANS THE SMALL BUSINESS SURETY BOND GUARANTY
FUND.

(D) "PRINCIPAL" MEANS A SMALL BUSINESS ENTITY THAT HAS
ASSETS, INCOME OR EMPLOYEES THAT DO NOT EXCEED LIMITS ESTABLISHED
BY THE AUTHORITY PURSUANT TO REGULATION OR ADMINISTRATIVE
DETERMINATION.

(E) "PROGRAM" MEANS THE SMALL BUSINESS SURETY BOND GUARANTY
PROGRAM CREATED BY PART VI OF THIS SUBTITLE.

13-234.1.

IN ADDITION TO ANY OTHER OF ITS POWERS, THE AUTHORITY MAY:

(1) USE THE SERVICES OF OTHER GOVERNMENTAL AGENCIES;

(2) CONTRACT FOR AND ACCEPT, FOR USE IN CARRYING OUT
THE PROVISIONS OF THIS PROGRAM, LOANS AND GRANTS FROM THE
FEDERAL, STATE, OR ANY LOCAL GOVERNMENT AND ANY OF THEIR
RESPECTIVE AGENCIES AND INSTRUMENTALITIES;

(3) ACQUIRE, MANAGE, OPERATE, DISPOSE OF, OR
OTHERWISE DEAL WITH PROPERTY, TAKE ASSIGNMENTS OF RENTALS AND
LEASES, AND MAKE CONTRACTS, LEASES, AGREEMENTS, AND ARRANGEMENTS
THAT ARE NECESSARY OR INCIDENTAL TO THE PERFORMANCE OF ITS
DUTIES, UPON ANY TERMS AND CONDITIONS THAT IT DEEMS ADVISABLE;

(4) PRESCRIBE OR APPROVE THE FORM OF AND TERMS AND
CONDITIONS IN APPLICATIONS, GUARANTEE AGREEMENTS, OR ANY OTHER
DOCUMENTS ENTERED INTO BY THE AUTHORITY, PRINCIPALS, OR SURETIES
IN CONNECTION WITH THE PROGRAM;

(5) ACQUIRE OR TAKE ASSIGNMENTS OF DOCUMENTS
EXECUTED, OBTAINED, OR DELIVERED IN CONNECTION WITH ANY
ASSISTANCE PROVIDED BY THE AUTHORITY UNDER THIS PROGRAM;

(6) FIX, DETERMINE, CHARGE, AND COLLECT ANY PREMIUMS,
FEES, CHARGES, COSTS, AND EXPENSES IN CONNECTION WITH ANY
ASSISTANCE PROVIDED BY THE AUTHORITY UNDER THIS PROGRAM;

(7) ADOPT RULES AND REGULATIONS NECESSARY TO CARRY
OUT THE PURPOSES OF THIS PROGRAM; AND