Maryland § 9-422
Full text of Maryland Maryland Code § 9-422, with citation guidance and answers to common questions.
§ 9-422.
(a) (1) Before any loan is made, the applicant shall execute an agreement specifying the purpose, amount, and manner of repayment of the loan.
(2) The agreement shall be signed on behalf of the State by the Department of the Environment and shall be approved by the Board of Public Works.
(3) To the extent not inconsistent with this Part II of Subtitle 4, a grant, loan, or loan guarantee agreement shall contain those conditions that the Secretary requires by regulation and that the Board of Public Works requires on a specific application for financial assistance.
(b) A State loan extended under this subtitle:
(1) May not exceed $500,000 principal amount for each project or part of a project in any calendar year except as provided in subsection (c) of this section;
(2) May not exceed the eligible cost of the project less the total of federal and State grants and federal loans;
(3) Shall bear at least the same rate of interest as the most recent State general obligation bond sale preceding the date of approval by the Board of Public Works; and
(4) Shall be repaid within 30 years.
(c) The aggregate principal amount of all loans for each project or part of a project in any calendar year may not exceed $500,000 unless the Board of Public Works determines that extraordinary circumstances exist.
Frequently Asked Questions About Maryland § 9-422
What does Maryland Code § 9-422 cover?
Section 9-422 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 § 9-422?
A common citation format is "Maryland Code § 9-422" (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 § 9-422 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.