Maryland § 5-2203 - IN EFFECT
Full text of Maryland Maryland Code § 5-2203 — IN EFFECT, with citation guidance and answers to common questions.
§ 5-2203. IN EFFECT
IN EFFECT
// EFFECTIVE UNTIL JUNE 30, 2029 PER CHAPTER 485 OF 2022 //
(a) To carry out the purpose of the Program, the Department may issue loans in accordance with this section to qualified covered individuals.
(b) (1) On a referral by an organization conducting an entrepreneurial development program under the New Start Grant Program established under § 11–606 of the Labor and Employment Article and subject to availability of funds in the Fund, a covered individual participating in that entrepreneurial development program may apply for a loan to establish a business.
(2) The referral shall include a recommendation by the organization conducting the entrepreneurial development program for the amount of the loan to be issued by the Department.
(3) The Department shall take a referral and recommendation provided by an organization conducting an entrepreneurial development program under this subsection into consideration when determining to issue a loan under this section but is not bound by the referral or recommendation.
(c) A loan issued under this section may not exceed $50,000.
(d) (1) Subject to paragraph (2) of this subsection, the Department shall specify the terms of the loan.
(2) The loan may not require the provision of any collateral.
Frequently Asked Questions About Maryland § 5-2203
What does Maryland Code § 5-2203 cover?
Section 5-2203 ("IN EFFECT") 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 § 5-2203?
A common citation format is "Maryland Code § 5-2203" (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 § 5-2203 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.