Maryland § 18-19B-05
Full text of Maryland Maryland Code § 18-19B-05, with citation guidance and answers to common questions.
§ 18-19B-05.
(a) (1) The debts, contracts, and obligations of the Broker–Dealer Plan are not the contracts, debts, or obligations of the State, and neither the faith and credit nor taxing power of the State is pledged directly or indirectly or contingently, morally or otherwise, to the payment of the debts, contracts, and obligations.
(2) The State Treasurer cannot directly or indirectly or contingently obligate, morally or otherwise, the State to levy or pledge any form of taxation whatsoever for the debts and obligations of the Broker–Dealer Plan or to make any appropriation for the payment of the debts and obligations of the Broker–Dealer Plan.
(b) Neither the State nor any eligible educational institution shall be liable for any losses or shortage of funds in the event that the account holder’s investment account balance is insufficient to meet the tuition requirements of an institution attended by the qualified designated beneficiary.
(c) Money of the Broker–Dealer Plan may not be considered money of the State or deposited in the State Treasury.
(d) Money of the Broker–Dealer Plan may not be considered money of or commingled with the Maryland Senator Edward J. Kasemeyer Prepaid College Trust.
(e) Money of the Broker–Dealer Plan may not be considered money of or commingled with the Maryland Senator Edward J. Kasemeyer College Investment Plan.
(f) Money of the Broker–Dealer Plan may not be considered money of or commingled with the Maryland ABLE Program.
Frequently Asked Questions About Maryland § 18-19B-05
What does Maryland Code § 18-19B-05 cover?
Section 18-19B-05 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 § 18-19B-05?
A common citation format is "Maryland Code § 18-19B-05" (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 § 18-19B-05 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.