Maryland § 5-206
Full text of Maryland Maryland Code § 5-206, with citation guidance and answers to common questions.
§ 5-206.
(a) Except as otherwise provided in this subtitle, the Department may set the terms and conditions for loans and grants made under this subtitle.
(b) The Department shall:
(1) determine whether to approve loan requests from qualified applicants for loans under this subtitle;
(2) set the terms and conditions for loans made under this subtitle; and
(3) determine that the applicant was unable to obtain the financing necessary for the activities on affordable terms through the normal lending channels.
(c) The maximum amount of a loan made with money from the Economic Development Administration of the United States Department of Commerce may not exceed the limit it sets by regulation.
(d) The proceeds of a loan may be used for working capital, equipment, furnishings, fixtures, or the construction, rehabilitation, or purchase of real property for the activities that the Department approves.
(e) The Department may authorize a flexible repayment schedule for a loan under this subtitle.
Frequently Asked Questions About Maryland § 5-206
What does Maryland Code § 5-206 cover?
Section 5-206 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 § 5-206?
A common citation format is "Maryland Code § 5-206" (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 § 5-206 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.