§ 7-613. Assistive Technology Loan Fund.

Latest version.

   (a) Established. -- There is an Assistive Technology Loan Fund in the Department.

(b) Purpose. -- The purpose of the Fund is to provide guarantees of loans and subsidies of loan interest for the purchase of assistive technology.

(c) Administration. --

   (1) The Board shall administer the Fund.

   (2) The Treasurer shall hold the Fund separately and the Comptroller shall account for the Fund.

(d) Status. -- The Fund is a continuing, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.

(e) Investment earnings. -- Any investment earnings of the Fund shall be paid into the Fund.

(f) Reversion to General Fund on resolution of Board. -- If, at any time, the balance of the Fund exceeds the amount that the Board considers necessary to meet its obligations, on resolution of the Board, the excess shall revert to the General Fund.

HISTORY: An. Code 1957, art. 41, § 14-906; 2007, ch. 3, § 2; 2008, ch. 62.

                    
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