Ch. 111

1997 LAWS OF MARYLAND

2. B. THE ASSETS HELD IN EACH CLASS OF INVESTMENT,
THE AMOUNT OF FUNDS HELD IN ANY CASH POPE THE AMOUNT OF FUNDS HELD IN
FIXED ASSETS INVESTMENTS, AND THE AMOUNT OF FUNDS HELD IN EQUITY
INVESTMENTS;

3. C. THE PERCENTAGE AND DOLLAR VALUE OF ASSETS
PLACED WITH OUTSIDE MANAGERS;

4. D. THE INCOME PRODUCED BY EACH CLASS OF

INVESTMENT; AND

5. E. THE INCOME PRODUCED BY EACH INVESTMENT

MANAGER; AND

2. A DETAILED ACCOUNT OF THE OPERATING AND
ADMINISTRATIVE BUDGET FOR THE PROGRAM. WHICH SHALL INCLUDE A COMPLETE
LIST OF REVENUE SOURCES AND EXPENDITURES DETAILING THE LINE ITEM
EXPENDITURES FOR:

A. SALARIES, WAGES, AND FRINGE BENEFITS;

B. TECHNICAL AND SPECIAL FEES;

C. COMMUNICATION;

D. TRAVEL;

E. CONTRACTUAL SERVICES;

F. SUPPLIES AND MATERIALS;

G. EQUIPMENT;

H. FIXED CHARGES; AND

I.. OTHER EXPENSES.

(III) THE NUMBER OF PREPAID TUITION HIGHER EDUCATION
INVESTMENT CONTRACTS ENTERED INTO DURING THE PREVIOUS FISCAL YEAR;

(IV) EFFORTS BY THE BOARD IN MARKETING THE PROGRAM OF
PREPAID TUITION HIGHER EDUCATION INVESTMENT CONTRACTS; AND

(V) ANY RECOMMENDATIONS OF THE BOARD CONCERNING THE
OPERATION OF THE PROGRAM.

(2) THE BOARD SHALL MAKE AVAILABLE TO EACH PURCHASER A COPY
OF A SUMMARY OF THE REPORT AND THE OPTION TO PURCHASE THE FULL REPORT
AT A NOMINAL CHARGE

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