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Maryland Code, Public Utilities § 22-109

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

To ensure the prompt payment of interest and provision for the payment of the principal on bonds issued under this subtitle:

(1) the prompt and proper performance of the acts required under §§ 22-106 and 22-108 of this subtitle is specially enjoined; and

(2) a person who is required to act under §§ 22-106 and 22-108 of this subtitle:

(i) shall perform the acts required under those sections;

(ii) shall pay over any funds as required under those sections; and

(iii) may not use any part of the funds for any other purpose than for the payment of principal and interest on the bonds.

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Cite this article: FindLaw.com - Maryland Code, Public Utilities § 22-109 - last updated January 01, 2025 | https://codes.findlaw.com/md/public-utilities/md-code-public-util-sect-22-109/

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