<?xml version='1.0' encoding='utf-8'?>
<regulation prefix="Regulation" num=".02" citation="COMAR 25.03.02.02" title_num="25" subtitle_num="03" chapter_num="02" heading="Allowable Transfers and Disbursements.">
  <paragraph num="A.">
    <text>Transfers. Funds may be transferred between the various State bank accounts by means of an alternative method of funds transfer authorized by Regulation .01 of this chapter.</text>
  </paragraph>
  <paragraph num="B.">
    <text>Disbursements. Upon warrant of the Comptroller, State funds may be disbursed by means of an alternative method of funds transfer authorized by Regulation .01 of this chapter for the payment of:</text>
    <paragraph num="(1)">
      <text>Principal, interest, or both, on State debt or the debt of a unit of State government;</text>
    </paragraph>
    <paragraph num="(2)">
      <text>Major routine State grants and shared-revenue disbursements to the political subdivisions of the State and to the units of those subdivisions;</text>
    </paragraph>
    <paragraph num="(3)">
      <text>State payroll-related disbursements, including, but not limited to:</text>
      <paragraph num="(a)">
        <text>Retirement, pension, and FICA contributions,</text>
      </paragraph>
      <paragraph num="(b)">
        <text>Taxes,</text>
      </paragraph>
      <paragraph num="(c)">
        <text>Insurance premiums,</text>
      </paragraph>
      <paragraph num="(d)">
        <text>Voluntary deductions, and</text>
      </paragraph>
      <paragraph num="(e)">
        <text>Net pay;</text>
      </paragraph>
    </paragraph>
    <paragraph num="(4)">
      <text>Disbursements to the federal government or to a state government;</text>
    </paragraph>
    <paragraph num="(5)">
      <text>Disbursements for the acquisition of investments by the Treasurer; and</text>
    </paragraph>
    <paragraph num="(6)">
      <text>Other disbursements that, in the judgment of the Comptroller and the Treasurer, or the authorized representative of either, are, in the interest of the State, best made by an alternative method of funds transfer.</text>
    </paragraph>
  </paragraph>
</regulation>