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Unannotated Code of Maryland (Last Updated: May 16, 2014) |
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ECONOMIC DEVELOPMENT |
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DIVISION I. DEPARTMENT OF BUSINESS AND ECONOMIC DEVELOPMENT |
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TITLE 5. ECONOMIC DEVELOPMENT AND FINANCIAL ASSISTANCE PROGRAMS |
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SUBTITLE 5. MARYLAND SMALL BUSINESS DEVELOPMENT FINANCING AUTHORITY |
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PART VI. SMALL BUSINESS SURETY BOND PROGRAM |
§ 5-561. Definitions
Latest version.
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(a) In general. -- In this part the following words have the meanings indicated.
** REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-1032(a).
(b) Fund. -- "Fund" means the Small Business Surety Bond Fund.
** REVISOR'S NOTE
This subsection formerly was Art. 83A, § 5-1032(d).
** REVISOR'S NOTE
No changes are made.
(c) Principal. -- "Principal" means a small business entity that has assets, income, or employees that do not exceed limits that the Authority sets by regulation.
** REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-1032(e).
** REVISOR'S NOTE
The former reference to limits set by "administrative determination" is deleted in light of administrative practice that sets all such limits by regulation.
** DEFINED TERM:
"Authority" § 5-501
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(d) Program. -- "Program" means the Small Business Surety Bond Program.
REVISOR'S NOTE
This subsection is new language derived without substantive change from former Art. 83A, § 5-1032(f).
REVISOR'S NOTE
The former phrase "created by this Part VI of this subtitle" is deleted as surplusage.