State Codes and Statutes
Statutes > Maryland > Business-regulation > Title-8 > Subtitle-4 > 8-403
§ 8-403. Establishment; disposition of money; investments; administration.
(a) Establishment.- The Commission shall:
(1) establish a Home Improvement Guaranty Fund; and
(2) keep the Fund at a level of at least $250,000.
(b) Disposition of money collected; investments by State Treasurer.-
(1) The Commission shall deposit all money collected to the credit of the Fund with the State Treasurer for placement in a special account.
(2) (i) The State Treasurer shall invest the money in the Fund in the same way that money in the State Retirement and Pension System is invested.
(ii) Investment earnings shall be credited to the Fund.
(c) Administration.- The Commission shall administer the Fund in accordance with this subtitle.
[An. Code 1957, art. 56, §§ 257A, 257B, 257D; 1992, ch. 4, § 2; 1994, ch. 468.]
State Codes and Statutes
Statutes > Maryland > Business-regulation > Title-8 > Subtitle-4 > 8-403
§ 8-403. Establishment; disposition of money; investments; administration.
(a) Establishment.- The Commission shall:
(1) establish a Home Improvement Guaranty Fund; and
(2) keep the Fund at a level of at least $250,000.
(b) Disposition of money collected; investments by State Treasurer.-
(1) The Commission shall deposit all money collected to the credit of the Fund with the State Treasurer for placement in a special account.
(2) (i) The State Treasurer shall invest the money in the Fund in the same way that money in the State Retirement and Pension System is invested.
(ii) Investment earnings shall be credited to the Fund.
(c) Administration.- The Commission shall administer the Fund in accordance with this subtitle.
[An. Code 1957, art. 56, §§ 257A, 257B, 257D; 1992, ch. 4, § 2; 1994, ch. 468.]
State Codes and Statutes
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Subtitle-4 >
8-403 § 8-403. Establishment; disposition of money; investments; administration.
(a) Establishment.- The Commission shall:
(1) establish a Home Improvement Guaranty Fund; and
(2) keep the Fund at a level of at least $250,000.
(b) Disposition of money collected; investments by State Treasurer.-
(1) The Commission shall deposit all money collected to the credit of the Fund with the State Treasurer for placement in a special account.
(2) (i) The State Treasurer shall invest the money in the Fund in the same way that money in the State Retirement and Pension System is invested.
(ii) Investment earnings shall be credited to the Fund.
(c) Administration.- The Commission shall administer the Fund in accordance with this subtitle.
[An. Code 1957, art. 56, §§ 257A, 257B, 257D; 1992, ch. 4, § 2; 1994, ch. 468.]
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