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Section 12-814 - Net Earnings for County Only -- Transfer to County on Termination of Authority — Maryland Law | CourtGPT
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  8. Section 12-814 - Net Earnings for County Only -- Transfer to County on Termination of Authority
Maryland Legal Code

Section 12-814 - Net Earnings for County Only -- Transfer to County on Termination of Authority

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(a) The net earnings of the Authority, apart from those necessary to pay debt service or to implement the purposes of this subtitle, may not inure to the benefit of any person other than the county. (b) On termination of the Authority, all rights and title to all assets of the Authority shall vest in, and all obligations and liabilities of the Authority may be transferred to and assumed by, the county.