1070                                            LAWS OF MARYLAND                                     Ch. 11

Throughout this section, the words "unit of the State
government" are substituted for former language such
as "board, commission, department or agency of the
State" and "State department, agency or commission",
for consistency with language used elsewhere in this
article. The Commission to Revise the Annotated Code
interprets the word "agency" in the former law as
being sufficiently broad to include a "board", thus
the variations in language in the former law did not
create a substantive distinction.

In subsection (a) of this section, the tabulation of
items (1) and (2) resolves an ambiguity in the former
law by making it clear that the language "subject to
any conditions the Board imposes" applies only to
situations where the recipient is a county or
municipal corporation. This revision is called to the
attention of the General Assembly.

In subsection (c)(2) of this section, the words
"Secretary of Budget and Fiscal Planning" are
substituted for the former, obsolete reference to the
"Budget Director".

In subsection (d) of this section, the word
"assignment" is substituted for the former references
to "reassignment", for clarity.

Defined terms: "Board" § 10-101
"County" § 1-101 "Person" § 1-101
"Real or personal property" § 10-301

10-306. SAME -- ACCOUNTING FOR PROCEEDS.

(A)  "CAPITAL ASSET" DEFINED.

IN THIS SECTION, "CAPITAL ASSET" MEANS AN ASSET OF A
SUBSTANTIAL PERMANENT NATURE.

(B)  REAL OR PERSONAL PROPERTY AS CONSIDERATION.

IF THE CONSIDERATION RECEIVED FOR THE DISPOSITION OF ANY
REAL OR PERSONAL PROPERTY OF THE STATE OR ANY UNIT OF THE STATE
GOVERNMENT IS OTHER REAL OR PERSONAL PROPERTY, THE REAL OR
PERSONAL PROPERTY RECEIVED SHALL BE HELD AND ACCOUNTED FOR IN THE
SAME MANNER AS OTHER PROPERTY UNDER THE JURISDICTION AND CONTROL
OF THE UNIT OF THE STATE GOVERNMENT THAT RECEIVES THE REAL OR
PERSONAL PROPERTY.

(C)  CASH AS CONSIDERATION.

(1) EXCEPT AS PROVIDED IN PARAGRAPH (2) OF THIS
SUBSECTION, IF CASH IS RECEIVED AS CONSIDERATION FOR THE
DISPOSITION OF A CAPITAL ASSET OF THE STATE OR ANY UNIT OF THE
STATE GOVERNMENT, THE CASH SHALL BE APPLIED TO THE STATE ANNUITY