SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take
effect October 1, 1999.

Approved April 13, 1999.

CHAPTER 96
(House Bill 506)

AN ACT concerning

Worcester County - Liquor Control Board - Working Capital Limit

FOR the purpose of altering the limit of the reserve fund that the Liquor Control
Board for Worcester County maintains to provide adequate working capital and
to meet losses sustained in the operation of certain dispensaries; repealing
obsolete language; and generally relating to the Liquor Control Board for
Worcester County.

BY repealing and reenacting, with amendments,
Article 2B - Alcoholic Beverages
Section 15-207(h)
Annotated Code of Maryland

(1998 Replacement Volume and 1998 Supplement)

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

Article 2B - Alcoholic Beverages

15-207.

(h) (1) This subsection applies only in Worcester County.

(2) All net profits arising from the operation of these dispensaries are
first applied towards the payment of any and all sums advanced to or borrowed by the
Liquor Control Board. After these sums are paid, the Board is authorized to create
and maintain a reserve fund not to exceed [$300,000] $400,000 [on June 1, 1995].
The reserve fund is maintained to provide adequate working capital and to meet any
losses that may be sustained by the Board in the operation of these dispensaries.

(3) Fifty percent of all net profits in excess of the reserve fund shall be
paid to the County Commissioners of Worcester County on or before June 1 each year.
The remaining 50 percent shall be paid on or before June 1 each year to the mayors
and city councils of Berlin, Ocean City, Pocomoke City, and Snow Hill in proportion to
the net profits on total sales of the dispensaries situated in each of these
municipalities. For purposes of calculating the municipalities' share and if the County
Commissioners consent to it for each municipality, a radius of 2 miles outside of the
municipal boundaries shall be considered as being within the corporate limits. In the