Ch. 686                                    LAWS OF MARYLAND

Article - Financial Institutions

Section 13-231(b), 13-234, 13-234.3, and 13-234.5

Annotated Code of Maryland

(1980 Volume and 1986 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Financial Institutions

13-231.

(b) If the applicant is an individual, the applicant shall
satisfy the Authority that:

(1) The applicant is of good moral character;

(2) As determined from creditors, employers, and
other individuals who have personal knowledge of the applicant,
the applicant has a reputation for financial responsibility;

(3) The applicant is a [citizen of the United States]
RESIDENT OF MARYLAND OR THE APPLICANT'S PRINCIPAL PLACE OF
BUSINESS IS IN MARYLAND; and

(4) The applicant is unable to obtain adequate
business financing on reasonable terms through normal lending
channels because the applicant:

(i) Belongs to a group that historically has
been deprived of access to normal economic or financial resources
because of race, color, creed, sex, religion, or national origin;

(ii) Has an identifiable physical handicap that
severely limits the ability of the applicant to obtain financial
assistance, but does not limit the ability of the applicant to
perform the government contract or other activity for which the
applicant would be receiving financial assistance; or

(iii) Has any other social or economic
impediment that is beyond the personal control of the applicant,
such as lack of formal education or financial capacity or
geographical or regional economic distress but that does not
limit the ability of the applicant to perform the government
contract or other activity for which the applicant would be
receiving financial assistance.

13-234.

(a) In Part VI of this subtitle the following words have
the meanings indicated.

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