ROBERT L. EHRLICH, JR., Governor
Ch. 375
(3) THE FUND consists of:
[(1)](I) All revenue received for the licensing of organizations that
provide debt management services under this subtitle;
[(2)](II) Income from investments that the Treasurer makes for the
Fund; and
[(3)](III) Except as provided in subsection (b) of this section, any other
fee or revenue received by the Commissioner under this subtitle.
(b) The Commissioner shall pay all fines and penalties collected by the
Commissioner under this subtitle into the General Fund of the State.
(c) The purpose of the Fund is to pay all the costs and expenses incurred by
the Commissioner that are related to the regulation of the debt management services
business under this subtitle, including:
(1) Expenditures authorized under this subtitle; and
(2) Any other expense authorized in the State budget.
(d) [(1) The Treasurer is the custodian of the Fund.
(2) The Treasurer shall deposit payments received from the
Commissioner into the Fund.
(e) (1) The Fund is a continuing, nonlapsing fund that is not subject to §
7-302 of the State Finance and Procurement Article, and may not be deemed a part of
the General Fund of the State.
(2) Unless otherwise provided by law, no part of the Fund may revert or
be credited to:
(i) The General Fund of the State; or
(ii) A special fund of the State.
(f)] (1) All the costs and expenses of the Commissioner relating to the
regulation of the debt management services business under this subtitle shall be
included in the State budget.
(2) Any expenditures from the Fund to cover costs and expenses of the
Commissioner may be made only:
(i) By an appropriation from the Fund approved by the General
Assembly in the annual State budget; or
(ii) By the budget amendment procedure provided for in § 7-209 of
the State Finance and Procurement Article.
[(3) If, in any fiscal year, the amount of the revenue collected by the
Commissioner and deposited into the Fund exceeds the actual appropriation for the
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