Section 1-703 - Distributions. - Maryland Statutes

§ 1-703. Distributions.
 

(a)  Promotional account.-  

(1) The Secretary may distribute not more than 5% of the net proceeds of the Fund to a promotional account to be used to promote further donations to the Fund. 

(2) Moneys in the Fund may be used for administrative costs calculated in accordance with § 1-103(b)(2) of this title. 

(b)  Remainder of funds.- After making the distributions allowed under subsection (a) of this section, the Secretary shall distribute the remainder of the net proceeds of the Fund as follows: 

(1) 50% to the Chesapeake Bay Trust established under § 8-1902 of this article, to be used by the Trust only as provided in § 1-704 of this subtitle; and 

(2) 50% to an endangered species account, to be used only to conserve nongame, threatened and endangered species as provided in § 1-705 of this subtitle. 
 

[1988, ch. 583; 2004, ch. 472; 2010, ch. 72, § 5.]