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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) The net earnings of the Authority, apart from those necessary to pay debt service or to implement the purposes of this subtitle, may not inure to the benefit of any person other than the county.
(b) On termination of the Authority, all rights and title to all assets of the Authority shall vest in, and all obligations and liabilities of the Authority may be transferred to and assumed by, the county.
Cite this article: FindLaw.com - Maryland Code, Economic Development § 12-814 - last updated January 01, 2025 | https://codes.findlaw.com/md/economic-development/md-code-econ-dev-sect-12-814/
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.
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