Section 11-101 – “Fund” Defined

    In this title, “Fund” means the Maryland State Appalachian Housing Fund.

Section 11-102 – Established

    There is a Maryland State Appalachian Housing Fund.

Section 11-103 – Purpose of Fund

    The Department shall use the Fund to fulfill its obligations under any contract or agreement with the Appalachian Regional Commission.

Section 11-104 – Status

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

Section 11-105 – Composition

    The Fund consists of:         (1)    receipts of the Department from the Appalachian Regional Commission;         (2)    investment earnings of the Fund; and         (3)    repayments of site development advances or loan principal or payments of loan interest made under this title.

Section 11-106 – Investments

    The State Treasurer shall invest money in the Fund in the same way as other State money.