Maryland § 15-129
Full text of Maryland Maryland Code § 15-129, with citation guidance and answers to common questions.
§ 15-129.
(a) In this section, “Fund” means the Historically Black Colleges and Universities Reserve Fund.
(b) There is a Historically Black Colleges and Universities Reserve Fund.
(c) The purpose of the Fund is to provide reserve funding for Bowie State University, Coppin State University, Morgan State University, and University of Maryland Eastern Shore that is used for purposes consistent with the uses specified under § 15–128 of this title.
(d) The Maryland Higher Education Commission shall administer the Fund.
(e) (1) The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
(2) The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
(f) The Fund consists of:
(1) The remainder of any funds unused at the end of a fiscal year that is distributed to the Fund under § 15–128 of this title;
(2) Money appropriated in the State budget to the Fund;
(3) Interest earnings; and
(4) Any other money from any other source accepted for the benefit of the Fund.
(g) The Fund may be used only for the uses specified under § 15–128 of this title.
(h) (1) The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
(2) Any interest earnings of the Fund shall be credited to the Fund.
(i) Expenditures from the Fund may be made only in accordance with the State budget.
(j) Money expended from the Fund for the uses specified under § 15–128 of this title is supplemental to and is not intended to take the place of funding that otherwise would be appropriated for the uses specified under § 15–128 of this title or any other funds appropriated to public institutions of higher education in the State budget.
Frequently Asked Questions About Maryland § 15-129
What does Maryland Code § 15-129 cover?
Section 15-129 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 § 15-129?
A common citation format is "Maryland Code § 15-129" (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 § 15-129 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.