Section 24-1103 - Nature of Trust Fund; accounting; investments; deposit of funds. - Maryland Statutes

§ 24-1103. Nature of Trust Fund; accounting; investments; deposit of funds.
 

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

(b)  Accounting; investments; deposit of funds.-  

(1) The Treasurer shall hold the Trust Fund and the Comptroller shall account for the Trust Fund. 

(2) (i) The Trust Fund shall be invested and reinvested in the same manner as other State funds. 

(ii) Any investment earnings of the Trust Fund shall be paid into the Trust Fund. 

(3) The Treasurer shall deposit funds into the two accounts of the Trust Fund in accordance with § 24-1104 of this subtitle. 
 

[2004, ch. 26, § 2.]