Section 5-348 - Use of proceeds. - Maryland Statutes

§ 5-348. Use of proceeds.
 

(a)  Authorized uses.- The proceeds of a child care special loan may be used: 

(1) to assist the applicant in meeting applicable State and local child care standards; 

(2) to pay for minor renovations, and to upgrade child care facilities, to ensure that applicants meet State and local child care standards; or 

(3) to purchase and install equipment and furniture, including equipment needed to accommodate children with special needs. 

(b)  Prohibited uses.- Except as provided in subsection (a) of this section, the proceeds of a child care special loan may not be used: 

(1) to purchase or improve land; or 

(2) to purchase, construct, or improve a building or facility. 
 

[An. Code 1957, art. 83A, § 5-1409(m); 2008, ch. 306, § 2.]