Skip to main content
Find a Lawyer

Maryland Code, Housing and Community Development § 9-204

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

(a) Subject to the requirements of this title, the organizational documents of the Fund shall govern the operation of the Board, including quorum and voting requirements.

(b) The Board has all powers arising from the documents and procedures creating and organizing the Fund as an independent legal entity.

(c) The Board shall:

(1) operate the Fund;

(2) keep proper records of the Board's accounts;

(3) establish standards and guidelines for:

(i) the terms and conditions of community reinvestment assistance and other Fund reinvestments; and

(ii) allocating community reinvestment assistance and other Fund investments;

(4) apportion among Fund transactions the operating costs of the Fund; and

(5) within the first 90 days of each fiscal year, make an annual report of Fund activities to the Governor and, subject to § 2-1257 of the State Government Article, to the General Assembly.

(d)(1) The Board shall appoint a loan committee to review and make determinations on specific requests or categories of requests for community reinvestment assistance to community reinvestment projects.

(2) The loan committee may review and make recommendations to the Board on other matters as the Board determines, including eligibility guidelines and financing policies for community reinvestment projects.

(3) The loan committee consists of:

(i) the Secretary of Housing and Community Development and the Secretary of Commerce or their designees as nonvoting members; and

(ii) the voting members that the Board appoints or their designees.

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

Cite this article: FindLaw.com - Maryland Code, Housing and Community Development § 9-204 - last updated January 01, 2025 | https://codes.findlaw.com/md/housing-and-community-development/md-code-hous-and-cmty-dev-sect-9-204/

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