Ch. 413                                    1995 LAWS OF MARYLAND

BY repealing and reenacting, with amendments,             

Article 2B - Alcoholic Beverages
Section 15-202(b)(2)(ii) and (c)                   

Annotated Code of Maryland
(1994 Replacement Volume)                                                          

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

Article 2B - Alcoholic Beverages

15-202.

(b) (2) The aggregate sum advanced to or borrowed by the liquor control board
may not exceed the following amounts:

(ii) Somerset County - [$5,000] $50,000

(C) (1) THE INTEREST RATE LIMITATION PROVIDED IN PARAGRAPH (2) OF
THIS SUBSECTION DOES NOT APPLY IN THE FOLLOWING JURISDICTIONS:

(I)      HARFORD COUNTY;

(II)    SOMERSET COUNTY; AND

(III)   WORCESTER COUNTY.

(2) All [sums of moneys] FUNDS advanced to the liquor control board by
the county commissioners, and all [sums] FUNDS borrowed by the county commissioners
or the liquor control board for the purposes of this subtitle, shall bear interest at the
lowest rate possible, not exceeding 6 percent [per annum, except that in Harford County
and Worcester County the interest rate limitation does not apply] A YEAR. All these
sums advanced or borrowed, together with the interest [thereon] ON THEM, shall be
repaid from the receipts from sales made at the county liquor dispensary, or branch
dispensaries.

[(2)] (3) In Worcester County, any borrowed funds expended for the use of
supplies or equipment are to be amortized over a term of five years.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
July 1, 1995.

Approved May 18, 1995.

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