(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.
Structure Maryland Statutes
Subtitle 1 - General Provisions
Section 16-102 - Accrual Method
Section 16-103 - Financial Condition
Section 16-104 - Pension Systems
Section 16-105 - Summary Statement of County Expenses
Section 16-106 - Budget and Fiscal Policies; Purchasing Laws
Section 16-107 - Reserve Accounts
Section 16-108 - Governmental Charges
Section 16-109 - Tax on Property
Section 16-110 - Tax for Soil Conservation Districts
Section 16-112 - Payments by Counties to Municipalities
Section 16-113 - Allegany County -- Lien for Water or Sewer Services
Section 16-114 - Prince George's County -- Administrative Hearing Services
Section 16-115 - Washington County -- Issuance or Renewal of Licenses