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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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BUSINESS REGULATION |
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TITLE 2. DEPARTMENT OF LABOR, LICENSING, AND REGULATION |
§ 2-106.3. Real Estate Commission Fund
Latest version.
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(a) Definitions. --
(1) In this section the following words have the meanings indicated.
(2) "Commission" means the State Real Estate Commission.
(3) "Fund" means the State Real Estate Commission Fund.
(b) Established; status. --
(1) There is a State Real Estate Commission Fund in the Department.
(2) The Fund is a special, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
(c) Contents. -- The Fund consists of fees collected by the Commission and distributed to the Fund under § 17-213 of the Business Occupations and Professions Article.
(d) Use of Fund. -- The Fund shall be used to cover the actual documented direct and indirect costs of fulfilling the statutory and regulatory duties of the Commission.
(e) Administration. -- The Secretary or a designee of the Secretary shall administer the Fund.
(f) Audits. -- The Legislative Auditor shall audit the accounts and transactions of the Fund as provided in § 2-1220 of the State Government Article.