Section 9-305 - Use of Fund money. - Maryland Statutes

§ 9-305. Use of Fund money.
 

(a)  Required use.- The Board shall use the money administered by the Fund to provide community reinvestment assistance in accordance with this title, any other applicable law, and the organizational documents of the Fund. 

(b)  Optional uses.- The Board may use the money that the Fund administers to: 

(1) assure a reasonable return on money held by the Fund before disbursing money for community reinvestment assistance; 

(2) pay expenses incurred in its formation and operation, including expenses for administrative, legal, actuarial, and other services; and 

(3) redeem interests in the Fund. 
 

[An. Code 1957, art. 83B, §§ 10-104(a)(2), 10-107; 2005, ch. 26, § 2.]