Maryland § 32-307
Full text of Maryland Maryland Code § 32-307, with citation guidance and answers to common questions.
§ 32-307.
(a) (1) The county may lend money to the Liquor Control Board to provide the Liquor Control Board with adequate working capital to acquire, establish, and operate the dispensary system and warehouse facilities.
(2) The county may finance a loan under this subsection by issuing notes, certificates of indebtedness, or bonds as the county finds necessary.
(3) (i) The Liquor Control Board may borrow money from a banking institution on the Liquor Control Board’s own credit.
(ii) The aggregate sum advanced to or borrowed by the Liquor Control Board may not exceed $500,000.
(b) (1) Money shall bear interest at the lowest rate possible, not exceeding 6% a year that, under this subtitle is:
(i) loaned to the Liquor Control Board by the county;
(ii) borrowed by the county; or
(iii) borrowed by the Liquor Control Board.
(2) Money loaned or borrowed, and the interest on it, shall be repaid from the receipts from sales made at the dispensaries.
Frequently Asked Questions About Maryland § 32-307
What does Maryland Code § 32-307 cover?
Section 32-307 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 32-307?
A common citation format is "Maryland Code § 32-307" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 32-307 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.