Volume 793, Page 1626 View pdf image |
Ch. 120 1995 LAWS OF MARYLAND (b) The Secretary of the Department may delegate the authority to approve [6-204.] 6-104. (a) All receipts designated for the Guarantee Fund shall be placed in the (1) Premiums and fees for guaranteeing loans; (2) Income from investments that the State Treasurer, on instruction of the (3) Proceeds from the sale, disposition, lease, or rental of collateral relating (4) Moneys appropriated by the State to the Guarantee Fund; and (5) Any other moneys made available to the Guarantee Fund. (b) The Guarantee Fund shall be used to pay all expenses and disbursements (1) Guaranty payments required by loan defaults; and (2) Expenses for administrative, legal, actuarial, technical assistance, and (c) In guaranteeing loans under this subtitle, consideration shall be given to: (1) Geographic distribution; (2) Community need; and (3) Community income, with priority given to those communities with the [6-205.3 6-105. (a) If, at any time, the amount of money in the Guarantee Fund exceeds the (1) Deposited with the State Treasurer, to the credit of the Fund; and (2) Invested in the manner provided for by law. (b) If, at any time, the amount of money in or credited to the Guarantee Fund - 1626 -
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Volume 793, Page 1626 View pdf image |
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