(a) 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) 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.
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