Maryland § 11-535
Full text of Maryland Maryland Code § 11-535, with citation guidance and answers to common questions.
§ 11-535.
(a) The Commission shall:
(1) administer the Fund and the Maryland-Bred Race Program with the help and advice of the Advisory Committee; and
(2) order each payment that is to be made from the Fund.
(b) The Commission shall:
(1) deposit the money allocated to the Fund by each mile thoroughbred racing licensee and the Maryland State Fair and Agricultural Society, Inc., into at least 1 bank or trust company in the State; and
(2) require the bank or trust company to secure the Fund by collateral.
(c) Within 5 days after a race meeting ends, the licensee shall pay to the Commission, to be held in the Fund, all money that is allocated to the Fund under this title but that was not disbursed during the race meeting.
(d) On recommendation of the Advisory Committee, the Commission may allocate a portion of the Fund to races that are restricted to horses conceived, but not necessarily foaled, in Maryland.
(e) If the Commission uses ordinary care to choose the depository bank or trust company, the members are not personally liable for loss to the Fund because of failure, insolvency, or other fault of the depository bank or trust company.
Frequently Asked Questions About Maryland § 11-535
What does Maryland Code § 11-535 cover?
Section 11-535 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 § 11-535?
A common citation format is "Maryland Code § 11-535" (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 § 11-535 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.