<?xml version='1.0' encoding='utf-8'?>
<section article="gab" article_name="Alcoholic Beverages and Cannabis" number="32-307" title_number="32" title_name="Wicomico County" subtitle_number="3" subtitle_name="Liquor Control Board">
  <level label="a">
    <level label="1">
      <text>The county may lend money to the Liquor Control Board to provide the Liquor Control Board with adequate working capital to acquire, establish, and operate the dispensary system and warehouse facilities.</text>
    </level>
    <level label="2">
      <text>The county may finance a loan under this subsection by issuing notes, certificates of indebtedness, or bonds as the county finds necessary.</text>
    </level>
    <level label="3">
      <level label="i">
        <text>The Liquor Control Board may borrow money from a banking institution on the Liquor Control Board’s own credit.</text>
      </level>
      <level label="ii">
        <text>The aggregate sum advanced to or borrowed by the Liquor Control Board may not exceed $500,000.</text>
      </level>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>Money shall bear interest at the lowest rate possible, not exceeding 6% a year that, under this subtitle is:</text>
      <level label="i">
        <text>loaned to the Liquor Control Board by the county;</text>
      </level>
      <level label="ii">
        <text>borrowed by the county; or</text>
      </level>
      <level label="iii">
        <text>borrowed by the Liquor Control Board.</text>
      </level>
    </level>
    <level label="2">
      <text>Money loaned or borrowed, and the interest on it, shall be repaid from the receipts from sales made at the dispensaries.</text>
    </level>
  </level>
</section>
