There is a Maryland Housing Fund. The Fund shall further the State interests expressed in § 3-202 of this subtitle. The Department shall manage and supervise the Fund. The Fund is a continuing, nonlapsing special fund that is not subject to § 7-302 of the State Finance and Procurement Article. The Department shall deposit money for the Fund with the State Treasurer. The money shall be held in the financial institutions that the State Treasurer considers proper and shall be accounted for by the Comptroller in a special account known as the “Maryland Housing Fund”. All premium and fee income shall be credited to the Fund to operate the Fund and to provide additional insurance, guarantees, and credit enhancement. The Fund consists of: money appropriated by the State to the Fund; proceeds of any State loan to the extent provided by the General Assembly or any governmental unit authorized to issue bonds for the Fund; fees and premiums that the Department receives in connection with insurance or other credit enhancement provided by the Fund; and all other money made available to the Department from any source for the purposes set forth in this subtitle. Money in the Fund shall be invested in the same manner as other State money. Money in the Fund shall be used to: insure loans that the Department accepts under this subtitle; insure bonds or notes issued to finance a project that is eligible for insurance under this subtitle; and provide other forms of credit enhancement under this subtitle. Money in the Fund that by agreement, contract, secretarial determination, or regulation has been created as an identifiable insurance or credit reserve may be used only in conformance with the terms and conditions creating the reserve. The Secretary may transfer to any reserve: operational money; earnings not yet allocated to a particular reserve; State appropriated money; proceeds of State general obligation bonds; or other money received and not allocated to a particular reserve. Beginning in fiscal year 2010, if the balance of the unallocated reserve of the Fund at the end of any fiscal year exceeds $10,000,000, the excess over $10,000,000 shall be transferred by the Governor to the: Homeownership Programs Fund established under § 4–502 of this article; Rental Housing Programs Fund established under § 4–504 of this article; and Special Loan Programs Fund established under § 4–505 of this article. The distribution of any money transferred from the Fund to the Homeownership Programs Fund, the Rental Housing Programs Fund, and the Special Loan Programs Fund shall be at the discretion of the Secretary.