# Economic Development (GEC)

## Title 5. Economic Development and Financial Assistance Programs

### Subtitle 3. Maryland Economic Development Assistance Authority and Fund

#### Section 5-349

(a) A mortgage or deed of trust held as security for a child care special loan made under this part that is in default may be foreclosed by the Department in the same manner as the Maryland Rules provide for foreclosures in private transactions.

(b) The Department may take title in its name to any property foreclosed under this section as well as to convey title to that property to a bona fide purchaser of the property.

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Md. Code Ann., Econ. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)