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.
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 11-101 – “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.