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Maryland Code, Human Services § 10-484

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(a) To facilitate the rehabilitation, liquidation, conservation, or dissolution of a provider under this subtitle, the Secretary, subject to the approval of the court, may:

(1) borrow money;

(2) execute, acknowledge, and deliver notes or other evidences of indebtedness for the loan;

(3) secure the repayment of the loan by the mortgage, pledge, assignment, or transfer in trust of all or part of the property of the provider;  and

(4) take any other action necessary and proper to consummate the loan and to provide for its repayment.

(b) The Secretary is not obligated personally or in an official capacity to repay a loan made under this section.

Cite this article: - Maryland Code, Human Services § 10-484 - last updated December 31, 2021 |

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