Skip to main content
Find a Lawyer

Maryland Code, Natural Resources § 3-217

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

(a) There is a Local Land Trust Revolving Loan Fund.

(b) The purpose of the Fund is to finance the Program.

(c) The Trust shall administer the Fund.

(d)(1) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.

(2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.

(e) The Fund consists of:

(1) Money appropriated in the State budget to the Fund;

(2) Interest earnings;

(3) Repayments of principal and interest from loans made under the Program; and

(4) Any other money from any other source accepted for the benefit of the Fund.

(f) The Governor may include in the annual budget bill an appropriation to the Fund.

(g) The Fund may be used only to provide funding for the Program.

(h)(1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.

(2) Any interest earnings of the Fund shall be credited to the Fund.

(i) Expenditures from the Fund may be made only in accordance with the State budget.

(j) Money expended from the Fund for the Program is supplemental to and is not intended to take the place of funding that otherwise would be appropriated for the Program.

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

Cite this article: FindLaw.com - Maryland Code, Natural Resources § 3-217 - last updated January 01, 2025 | https://codes.findlaw.com/md/natural-resources/md-code-nat-res-sect-3-217/

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