(a) The Administration may use the Fund to enhance the credit of a financing offered by a bank or other financial institution for a project. (b) A credit enhancement issued in accordance with subsection (a) of this section shall: (1) carry out the purpose of the Program in a manner the Administration considers appropriate; (2) facilitate financing of at least one project of a local jurisdiction, nonprofit organization, or eligible business; and (3) be offered only to a bank or other financial institution in good standing with the State Department of Assessments and Taxation that is: (i) incorporated in the State; or (ii) registered to do business in the State. (c) The Administration may assess a reasonable fee to a participating bank or financial institution for the administration of this section. (d) The Administration shall adopt regulations to carry out this section.
Maryland Legal Code