Section 2-106.3 - Real Estate Commission Fund. - Maryland Statutes

§ 2-106.3. Real Estate Commission Fund.
 

(a)  Definitions.-  

(1) In this section the following words have the meanings indicated. 

(2) "Commission" means the State Real Estate Commission. 

(3) "Fund" means the State Real Estate Commission Fund. 

(b)  Established; status.-  

(1) There is a State Real Estate Commission Fund in the Department. 

(2) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article. 

(c)  Contents.- The Fund consists of fees collected by the Commission and distributed to the Fund under § 17-213 of the Business Occupations and Professions Article. 

(d)  Use of Fund.- The Fund shall be used to cover the actual documented direct and indirect costs of fulfilling the statutory and regulatory duties of the Commission. 

(e)  Administration.- The Secretary or a designee of the Secretary shall administer the Fund. 

(f)  Audits.- The Legislative Auditor shall audit the accounts and transactions of the Fund as provided in § 2-1220 of the State Government Article. 
 

[2005, ch. 399.]