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<section article="gca" article_name="Corporations and Associations" number="11-208" title_number="11" title_name="Maryland Securities Act" subtitle_number="2" subtitle_name="Division of Securities">
  <level label="a">
    <text>In this section, “Fund” means the Securities Act Registration Fund.</text>
  </level>
  <level label="b">
    <text>There is a Securities Act Registration Fund.</text>
  </level>
  <level label="c">
    <text>The purpose of the Fund is to help fund the direct and indirect costs of administering and enforcing the Maryland Securities Act.</text>
  </level>
  <level label="d">
    <text>The Commissioner shall administer the Fund.</text>
  </level>
  <level label="e">
    <level label="1">
      <text>The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.</text>
    </level>
    <level label="2">
      <text>The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.</text>
    </level>
  </level>
  <level label="f">
    <text>The Fund consists of:</text>
    <level label="1">
      <text>Fees distributed to the Fund under § 11–407(a)(2) of this title;</text>
    </level>
    <level label="2">
      <text>Money appropriated in the State budget to the Fund; and</text>
    </level>
    <level label="3">
      <text>Any other money from any other source accepted for the benefit of the Fund.</text>
    </level>
  </level>
  <level label="g">
    <text>The Fund may be used to administer and enforce the Maryland Securities Act and to support the general operations of the Maryland Office of the Attorney General.</text>
  </level>
  <level label="h">
    <level label="1">
      <text>The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.</text>
    </level>
    <level label="2">
      <text>Any interest earnings of the Fund shall be credited to the General Fund of the State.</text>
    </level>
  </level>
  <level label="i">
    <text>Expenditures from the Fund may be made only in accordance with the State budget.</text>
  </level>
  <level label="j">
    <text>Money expended from the Fund used to administer and enforce the Maryland Securities Act is supplemental to and is not intended to take the place of funding that otherwise would be appropriated to administer and enforce the Maryland Securities Act.</text>
  </level>
</section>
