Maryland § 5-528
Full text of Maryland Maryland Code § 5-528, with citation guidance and answers to common questions.
§ 5-528.
(a) The Authority may set the terms and conditions for a loan guaranty made under § 5-525(a) of this subtitle.
(b) (1) If the Authority decides to lend money from the Fund to an applicant under § 5-525(c) of this subtitle, the Authority shall prepare loan documents that include:
(i) the interest rate on the loan that equals the market rate for a conventional loan of comparable risk unless the Authority determines that a lower rate better serves the purposes of this subtitle;
(ii) a disbursement schedule that provides enough money to the applicant when the applicant needs it to perform the contract;
(iii) a requirement that the applicant and the Authority co-sign each request for an advance of money before release of the money; and
(iv) provisions for repayment of the loan.
(2) The loan documents may include any other provision that the Authority determines is necessary to secure the loan, including an assignment of or a lien on payment under the contract.
Frequently Asked Questions About Maryland § 5-528
What does Maryland Code § 5-528 cover?
Section 5-528 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 § 5-528?
A common citation format is "Maryland Code § 5-528" (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 § 5-528 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.