§ 5-437. Authorized purpose obligation not exceeding $250,000

Latest version.

   (a) In general. -- The Authority may authorize the Executive Director of the Authority to approve, on behalf of the Authority, financial assistance under § 5-431 of this subtitle not exceeding the aggregate amount of $ 250,000 for a single transaction.

(b) Approval. -- An approval by the Executive Director under this section:

   (1) is subject to concurrence of the Secretary, the Secretary's designee, or the chair of the Authority;

   (2) shall comply with the requirements of this subtitle; and

   (3) is binding on the Authority.

HISTORY: An. Code 1957, art. 83A, § 5-921; 2008, ch. 306, § 2; ch. 307, § 1.

                    
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