Maryland § 10-462
Full text of Maryland Maryland Code § 10-462, with citation guidance and answers to common questions.
§ 10-462.
(a) There is a Pava LaPere Innovation Acceleration Grant Program in the Corporation.
(b) The Corporation shall administer the Program.
(c) The purpose of the Program is to foster growth of the entrepreneurial innovation ecosystem in the State by providing grants to technology–based start–up companies that:
(1) are founded by students of postsecondary institutions located in the Baltimore–Columbia–Towson Metropolitan Statistical Area; and
(2) have their principal place of business in the Baltimore–Columbia–Towson Metropolitan Statistical Area.
(d) An applicant shall submit an application for a Program award as required by the Corporation.
(e) The Program shall review the application and all supporting materials to evaluate whether the applicant qualifies for an award from the Program.
(f) (1) Subject to paragraphs (2) and (3) of this subsection, the Program shall award $50,000 to each qualifying applicant.
(2) A qualifying applicant shall use at least 20% of the award to hire third–party consultants for planning, development, regulatory compliance, or other technical assistance related to establishing the start–up company.
(3) The Corporation may provide waivers on request by an applicant.
(g) (1) For each fiscal year, the Governor shall include an appropriation for the Program in the annual budget bill.
(2) The Program may use up to 10% of the annual appropriation for administrative expenses, not to exceed $50,000 in a single fiscal year.
(h) The Corporation shall adopt regulations necessary to carry out this section.
Frequently Asked Questions About Maryland § 10-462
What does Maryland Code § 10-462 cover?
Section 10-462 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 § 10-462?
A common citation format is "Maryland Code § 10-462" (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 § 10-462 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.