Maryland § 19-805
Full text of Maryland Maryland Code § 19-805, with citation guidance and answers to common questions.
§ 19-805.
(a) (1) Notwithstanding any other law, Cecil County may issue revenue bonds, notes, or other evidence of indebtedness to accomplish the purposes of this subtitle.
(2) The county may use money borrowed under this subtitle to make funds available, directly or through mortgage lending institutions, for residential mortgage loans by:
(i) forward commitment mortgage purchases;
(ii) existing mortgage purchases;
(iii) loans to lenders;
(iv) a revolving mortgage fund; or
(v) any other manner the county considers appropriate.
(3) (i) The county may issue new bonds to provide funds for the payment of any outstanding bonds in accordance with this subtitle and § 19–207 of this title.
(ii) The new bonds shall be secured to the same extent and have the same source of payment as the refunded bonds.
(b) The amount borrowed under this subtitle may not exceed $35,000,000 in the total aggregate amount.
(c) Cecil County may collect participation charges to cover loan processing, loan administration, mortgage insurance, and other costs and expenses of a program from a borrower participating in the program.
(d) A program may provide for:
(1) loan agreements;
(2) security agreements;
(3) loan servicing agreements;
(4) forms of mortgages, notes, and deeds of trust; and
(5) other appropriate securities, documents, agreements, and provisions.
Frequently Asked Questions About Maryland § 19-805
What does Maryland Code § 19-805 cover?
Section 19-805 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 § 19-805?
A common citation format is "Maryland Code § 19-805" (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 § 19-805 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.