§ 9-303

Maryland § 9-303

• Jurisdiction: Maryland
• Article ghs: Housing and Community Development
• Title: 9

Text

(a) The Board shall determine the form of the independent legal entity constituting the Fund in accordance with the organizational documents of the Fund.

(b) In accordance with the organizational documents of the Fund, an entity contributing money to the Fund may be entitled to receive:

(1) interests in the Fund in proportion to the entity’s contribution, in an amount and in a form that the Board determines; and

(2) a return on its contribution to the Fund based on:

(i) the entity’s share; and

(ii) a fixed rate of return or the amount of any dividends, royalties, or other earnings of the Fund, or on another formula and in a form that the Board determines.