§ 30-106
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/md/local-government/30-106A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§30–106.
(1)The Board may accept and shall credit to the Fund any gifts, devises, and bequests to be administered in accordance with this title.
(2)The Board may pay from the Fund the expenses necessary to carry out this title, including:
(i)organization, clerical, and office expenses; and
(ii)for the conduct of its proceedings, including expenses for investigation, medical or other advice, and stenographic service.
(i)If the balance of the Fund falls below $75,000, the Board may assess a fee not to exceed 10 cents per week on each officer and civilian employee of the Department.
(ii)The fee shall be collected through payroll deductions and credited to the Fund.
(iii)1. The Board shall determine the period of time over which the fee will be collected.
2. The assessment shall end when the balance of the Fund reaches $200,000 and may only be reimposed when the balance of the Fund falls below $75,000.
(i)On written request of at least 10% of the total number of officers and civilian employees of the Department, the action of the Board requiring an assessment under paragraph
(1)of this subsection shall be submitted to a secret ballot vote of the officers and civilian employees of the Department.
(ii)If a majority of the votes cast are against the assessment, the assessment may not be imposed.
(i)If the Fund is not replenished, the Fund shall be used until exhausted.
(ii)Once the assets of the Fund have been exhausted, the Fund shall cease.
(1)The Board shall deposit sufficient money from the Fund in federally insured savings accounts to meet the anticipated benefit payments for each year.
(2)The Board may invest the remaining assets of the Fund in any other manner the Board considers prudent.
(1)The Fund shall be audited from time to time by an independent certified public accountant that the Board retains.
(2)On or before May 1 of each year, the Board shall publish a report for the previous calendar year that includes the fiscal transactions of the Fund and a detailed balance sheet.
(i)The Board shall provide copies of the report to all members of the Board by electronic mail and post copies of the report on the Department’s Intranet.
(ii)The Board shall keep copies of the report on file and make the report available to any officer or civilian employee of the Department or potential beneficiary of any deceased officer or civilian employee.