(a) Proceeds from the sale of bonds and other revenues received under this subtitle are trust funds to be held and applied solely as provided in this subtitle.
(b) (1) Each officer, bank, or trust company that receives money from the Center under this subtitle shall act as trustee of the money and shall hold and apply the money for the purposes specified under this subtitle.
(2) The officer, bank, or trust company holding money is subject to:
(i) any regulation adopted under this subtitle; and
(ii) the trust agreement securing the bonds.
Structure Maryland Statutes
Division II - Independent and Regional Development Units and Resources
Title 10 - Statewide Development Resources and Revenue Authorities
Subtitle 8 - Maryland Clean Energy Center
Section 10-840 - General Authorization
Section 10-841 - Trust Agreement
Section 10-842 - Legal Investments
Section 10-843 - Liability; Full Faith and Credit
Section 10-844 - Rates, Rents, Fees, Charges
Section 10-846 - Use of Bond Proceeds and Revenues
Section 10-847 - Refunding Bonds
Section 10-848 - Bond Anticipation Notes
Section 10-849 - Title Conveyance; Release of Security