Maryland § 10-503
Full text of Maryland Maryland Code § 10-503, with citation guidance and answers to common questions.
§ 10-503.
(a) (1) Each fund is a special continuing, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.
(2) (i) Each fund consists of:
1. profits derived from the sale of goods through the commissary operation and telephone and vending machine commissions; and
2. subject to subparagraph (ii) of this paragraph, money received from other sources.
(ii) Money from the General Fund of the State may not be transferred by budget amendment or otherwise to a fund.
(3) The Treasurer shall separately hold and the Comptroller shall account for each fund.
(4) Each fund is subject to an audit by the Office of Legislative Audits under § 2-1220 of the State Government Article.
(b) (1) Each fund shall be invested and reinvested in the same manner as other State funds.
(2) Any investment earnings are not a part of the fund.
Frequently Asked Questions About Maryland § 10-503
What does Maryland Code § 10-503 cover?
Section 10-503 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 § 10-503?
A common citation format is "Maryland Code § 10-503" (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 § 10-503 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.