Section 1-203.3 - Fund for costs of reviewing, processing, and auditing documents. - Maryland Statutes

§ 1-203.3. Fund for costs of reviewing, processing, and auditing documents.
 

(a)  Established.- There is a continuing, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article. 

(b)  Use of fund.- Subject to the appropriation process in the State budget, the Department shall use the fund: 

(1) For the costs of reviewing, processing, and auditing documents filed or requested under this article or other articles of the Code; and 

(2) To pay redemption or extinguishment amounts to former owners of ground rents redeemed or extinguished in accordance with § 8-110 of the Real Property Article. 

(c)  Accounting.- The State Treasurer shall hold and the State Comptroller shall account for the fund. 

(d)  Investments - In general.- The fund shall be invested and reinvested in the same manner as other State funds. 

(e)  Investments - Earnings.- Investment earnings shall accrue to the benefit of the fund. 
 

[2000, ch. 324, § 2; 2003, ch. 464; 2004, ch. 480.]