Skip to main content
Find a Lawyer

Maryland Code, Business Regulation § 2-106.7

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 State Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors.

(3) “Fund” means the State Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors Fund.

(b)(1) There is a State Commission of Real Estate Appraisers, Appraisal Management Companies, and Home Inspectors Fund in the Department.

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

(c) The Fund consists of fees collected by the Commission and distributed to the Fund under Title 16 of the Business Occupations and Professions Article.

(d) The Fund shall be used to cover the Commission's 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 Fund.

(f) The Legislative Auditor shall audit the accounts and transactions of the 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 Fund in excess of $100,000 shall revert to the General Fund of the State.

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

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Maryland Code, Business Regulation § 2-106.7 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-2-106-7/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard