Maryland § 3-206
Full text of Maryland Maryland Code § 3-206, with citation guidance and answers to common questions.
§ 3-206.
(a) In offering insurance and other forms of credit enhancement, the Department shall adopt eligibility standards that are reasonable to aid in:
(1) financing the purchase, construction, or rehabilitation of:
(i) housing projects;
(ii) special housing facility projects, consisting of the acquisition, rehabilitation, improvement, renovation, construction, financing, or refinancing of a building that:
1. provides common, shared, or independent living, dining, kitchen, sanitary, and sleeping facilities;
2. may include supportive services or supervisory live–in personnel for individuals with specialized housing needs; and
3. may include nonresidential facilities to serve individuals with special needs who may or may not be residents of the special housing facility;
(iii) rehabilitation projects, as defined in § 4–901 of this article;
(iv) energy conservation projects;
(v) solar energy projects;
(vi) public purpose projects;
(vii) infrastructure projects; or
(viii) business projects; and
(2) the sale or other transfer of an obligation that is:
(i) denoted as a bond, note, collateralized obligation, grantor trust, conduit, or other form of security or obligation; and
(ii) backed directly or indirectly by a mortgage or a payment derived from a mortgage.
(b) The standards adopted under subsection (a) of this section shall ensure that a lender benefiting from insurance or other credit enhancement provided by the Department is responsible and able to service the loan.
(c) A determination by the Secretary is conclusive if it relates to the eligibility of a project, facility, or undertaking for:
(1) insurance or other credit enhancement; or
(2) other action taken by the Department, in its own name or in the name of the Fund, under this subtitle.
Frequently Asked Questions About Maryland § 3-206
What does Maryland Code § 3-206 cover?
Section 3-206 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 § 3-206?
A common citation format is "Maryland Code § 3-206" (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 § 3-206 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.