Md. Code, Econ. Dev. § 12-814

Current with changes from the 2024 Legislative Session
Section 12-814 - Disposition of net earnings; assets
(a) The net earnings of the Authority, apart from those necessary to pay debt service or to implement the purposes of this subtitle, may not inure to the benefit of any person other than the county.
(b) On termination of the Authority, all rights and title to all assets of the Authority shall vest in, and all obligations and liabilities of the Authority may be transferred to and assumed by, the county.

Md. Code, EC § 12-814

Added by 2022 Md. Laws, Ch. 717, Sec. 1, eff. 10/1/2022.