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Maryland Code, Business Regulation § 2-106.11

Current as of January 01, 2025 | Updated by Findlaw Staff

(a)(1) In this section the following words have the meanings indicated.

(2) “Commission” means the Maryland Home Improvement Commission.

(3) “Special Fund” means the Maryland Home Improvement Commission Special Fund.

(b)(1) There is a Maryland Home Improvement Commission Special Fund in the Department.

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

(c) The Special Fund consists of fees collected by the Commission and distributed to the Special Fund under Title 8 of this article.

(d) The Special Fund shall be used to cover the actual documented direct and indirect costs of fulfilling the statutory and regulatory duties of the Commission.

(e) The Secretary or a designee of the Secretary shall administer the Special Fund.

(f) The legislative auditor shall audit the accounts and transactions of the Special Fund as provided in § 2-1220 of the State Government Article.

(g) At the end of each fiscal year, any unspent and unencumbered portion of the Special Fund in excess of $100,000 shall revert to the General Fund of the State.

(h) Any investment earnings of the Special Fund shall be credited to the General Fund of the State.

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Cite this article: FindLaw.com - Maryland Code, Business Regulation § 2-106.11 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-2-106-11/

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