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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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COURTS AND JUDICIAL PROCEEDINGS |
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TITLE 5. LIMITATIONS, PROHIBITED ACTIONS, AND IMMUNITIES |
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SUBTITLE 5. IMMUNITIES AND PROHIBITED ACTIONS -- GOVERNMENTAL |
§ 5-521. Immunity -- Department of Business and Economic Development
Latest version.
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(a) Definitions. --
(1) In this section the following words have the meanings indicated.
(2) "Department" means the Department of Business and Economic Development.
(3) "Eligible business" has the meaning stated in § 5-451 of the Economic Development Article.
(4) "Lender" has the meaning stated in § 5-451 of the Economic Development Article.
(b) Nonliability for loans. -- The Department and the State are not liable to any lender for payment of the principal or interest on a loan to an eligible business in accordance with § 5-451 of the Economic Development Article.
HISTORY: 1990, ch. 546, § 3; 1995, ch. 120, § 19; 1997, ch. 14, § 9; 2003, ch. 21, § 1; 2004, ch. 25; 2008, ch. 307, § 1.