(a) The net earnings of the Authority, apart from those necessary to pay debt service or to implement the purposes of this subtitle, may not inure to the benefit of any person other than the county. (b) On termination of the Authority, all rights and title to all assets of the Authority shall vest in, and all obligations and liabilities of the Authority may be transferred to and assumed by, the county.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.