(a) To facilitate the rehabilitation, liquidation, conservation, or dissolution of a provider under this subtitle, the Secretary, subject to the approval of the court, may: (1) borrow money; (2) execute, acknowledge, and deliver notes or other evidences of indebtedness for the loan; (3) secure the repayment of the loan by the mortgage, pledge, assignment, or transfer in trust of all or part of the property of the provider; and (4) take any other action necessary and proper to consummate the loan and to provide for its repayment. (b) The Secretary is not obligated personally or in an official capacity to repay a loan made under this section.
‹ 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.