§ 17-304

Maryland § 17-304

• Jurisdiction: Maryland
• Article glg: Local Government
• Title: 17

Text

(a) The State Treasurer shall administer the Pool on behalf of:

(1) authorized participants; and

(2) to the extent that State money is included in the Pool, the State.

(b) The State Treasurer shall develop procedures necessary to administer the Pool efficiently, including:

(1) specification of the minimum and maximum amounts that may be deposited by any authorized participant in the Pool and minimum periods of time for which deposits must be retained in the Pool;

(2) payment of administrative expenses from the earnings of the Pool; and

(3) distribution of earnings in excess of expenses or allocation of losses to authorized participants in a manner that equitably reflects the amount and duration of each authorized participant’s investments in the Pool.