§ 16–107
Statutes in effect as of October 1, 2026.
Md. Code Ann., Local Gov't § 16-107 (2026)
Title 16. In General
Subtitle 1. General Provisions
§ 16–107LinkCopy Citation
(a)
In this section, “reserve account” means a continuing, nonlapsing account or fund in which money is retained to support appropriations that have become unfunded.
(b)
By ordinance or local law, after notice and hearing, a county may establish one or more reserve accounts.
(c)
An ordinance or a local law that establishes a reserve account shall provide for:
(1)
requirements for the accumulation of a fixed amount of money, a percentage of designated revenues, or both;
(2)
the circumstances under which the account may be used; and
(3)
the use of any earnings on the account.