Plain Text Law

Title 35 — Subtitle 05. Maryland Veterans Trust Fund

Chapter 01. General Regulations

Regulation .01 Purpose.Copy Citation

To carry out the responsibilities and goals of the Department, there is a Maryland Veterans Trust Fund within the Department.

Regulation .02 Definition.Copy Citation

A.
In this subtitle, the following term has the meaning indicated.
B.
Term Defined. “Fund” has the meaning stated in State Government Article, §9-913(a), Annotated Code of Maryland.

Regulation .03 General.Copy Citation

A.
The Fund consists of gifts and grants that the Department receives under State Government Article, §9-912(b), Annotated Code of Maryland.
B.
The Secretary shall administer the Fund.
C.
The Maryland Veterans Commission, the Maryland Veterans' Home Commission, and program directors shall advise the Secretary on the administration of the Fund.
D.
The State Treasurer shall hold the Fund separately, and the Comptroller shall account for the Fund.
E.
The State Treasurer shall invest the money in the Fund in the same manner as other State money may be invested.
F.
Any investment earnings of the Fund shall be credited to the Fund.
G.
The Fund is a special, nonlapsing fund that is not subject to reversion under State Finance and Procurement Article, §7-302, Annotated Code of Maryland.
H.
Money expended from the Fund is supplemental to and is not intended to take the place of funding that would otherwise be appropriated to the Department.

Regulation .04 Use of Fund.Copy Citation

Unless the terms of a gift or grant require otherwise, and subject to the approval of the Secretary, money in the Fund may:
A.
Be used to provide grants or loans to:
(1)
Veterans and their families;
(2)
Public and private programs that support veterans and their families; or
(3)
Any other programs that the Secretary considers appropriate; or
B.
Be invested, including all or part of the principal and income, in:
(1)
General obligations of the State; or
(2)
Any other security.