§ 9-20A-09
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/md/state-government/9-20a-09·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§9–20A–09.
(a)The Administration may use the Fund to enhance the credit of a financing offered by a bank or other financial institution for a project.
(b)A credit enhancement issued in accordance with subsection
(a)of this section shall:
(1)carry out the purpose of the Program in a manner the Administration considers appropriate;
(2)facilitate financing of at least one project of a local jurisdiction, nonprofit organization, or eligible business; and
(3)be offered only to a bank or other financial institution in good standing with the State Department of Assessments and Taxation that is:
(i)incorporated in the State; or
(ii)registered to do business in the State.
(c)The Administration may assess a reasonable fee to a participating bank or financial institution for the administration of this section.
(d)The Administration shall adopt regulations to carry out this section.