There is a Family and Medical Leave Insurance Fund.

The Secretary shall administer the Fund. The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article. The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.

The Fund consists of: employee contributions; self–employed individual contributions; employer contributions; application and application renewal fees paid as required in regulations adopted under § 8.3–705(b)(3) of this title; money paid to the Fund for the purpose of reimbursing the Secretary under § 8.3–902 of this title for benefits paid in error; money collected under: § 8.3–903(1) of this title for assessed contributions and interest for an employer’s or a self–employed individual’s failure to pay contributions; and § 8.3–906(a)(1)(iii) of this title for the Department’s costs of an appeal against an employer or insurer; interest earned on money in the Fund; and money received for the Fund from any other source. Money in the Fund may be commingled. Subject to paragraph (2) of this subsection, the Fund may be used only for the purposes of this title. Fees paid into the Fund under subsection (a)(4) of this section may be used only for administrative purposes of the Program.

The State Treasurer is custodian of the Fund. The State Treasurer shall manage the Fund in accordance with regulations that the Secretary adopts. Under the direction of the Secretary, the State Treasurer shall establish the Fund account in any financial institution in which the General Fund of the State may be deposited. On receipt of any money payable to the Fund, the Secretary shall ensure immediate deposit of the money into the Fund account as required by the State Treasurer. In accordance with regulations that the Secretary adopts, money in the Fund account: shall be used to pay benefits under this title; and may be used to pay for: the public education program carried out under § 8.3–403(a)(4) of this title; and any costs associated with the initial implementation and ongoing administration of this title.

A check that is issued to pay benefits or refunds shall: bear the signature of the Secretary; and be countersigned by an authorized agent.

This title does not grant an employee any prior claim or right to money the employee pays into the Fund.