<?xml version='1.0' encoding='utf-8'?>
<section article="gbr" article_name="Business Regulation" number="8-403" title_number="8" title_name="Home Improvement" subtitle_number="4" subtitle_name="Home Improvement Guaranty Fund">
  <level label="a">
    <text>The Commission shall:</text>
    <level label="1">
      <text>establish a Home Improvement Guaranty Fund;</text>
    </level>
    <level label="2">
      <text>keep the Fund at a level of at least $1,000,000; and</text>
    </level>
    <level label="3">
      <text>submit a report detailing actions being taken to restore the balance of the Fund to a sustainable level to the Senate Committee on Education, Energy, and the Environment and the House Economic Matters Committee within 30 days of projecting that the Fund balance will be less than $1,000,000.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>Except as otherwise provided by law, the Commission shall deposit all money collected to the credit of the Fund with the State Treasurer for placement in a special account.</text>
    </level>
    <level label="2">
      <level label="i">
        <text>The Commission shall establish and maintain within the Fund a separate account to be held with the State Treasurer for the payment of necessary expenses for expert witnesses used to resolve claims against the Fund.</text>
      </level>
      <level label="ii">
        <text>One–half of the money collected under § 8–620(c) of this title shall be credited to the account established in subparagraph (i) of this paragraph.</text>
      </level>
      <level label="iii">
        <text>One–half of the money collected under § 8–620(c) of this title shall be credited to the General Fund of the State.</text>
      </level>
    </level>
    <level label="3">
      <level label="i">
        <text>The State Treasurer shall invest the money in the Fund in the same way that money in the State Retirement and Pension System is invested.</text>
      </level>
      <level label="ii">
        <text>Investment earnings shall be credited to the Fund.</text>
      </level>
    </level>
  </level>
  <level label="c">
    <text>The Commission shall administer the Fund in accordance with this subtitle.</text>
  </level>
</section>
