(a) The Liquor Control Board shall apply proceeds derived from the operation of dispensaries first toward the repayment of money advanced to or borrowed by the Liquor Control Board.
(b) (1) After repayment under subsection (a) of this section, the Liquor Control Board may maintain a reserve fund not exceeding $300,000 to:
(i) provide adequate working capital; and
(ii) cover any losses sustained by the Liquor Control Board in operating the dispensaries.
(2) The Liquor Control Board may distribute up to $100,000 from the reserve fund to each dispensary.
(c) Of the proceeds generated by the dispensaries in excess of the amount required to maintain the reserve fund, the Liquor Control Board annually shall distribute:
(1) by May 1, to the county:
(i) 75% of the remaining proceeds generated by the dispensaries in Crisfield and the West Princess Anne election districts; and
(ii) all of the remaining proceeds generated by the dispensary in the Dublin election district; and
(2) by June 1, to the City of Crisfield and the Town of Princess Anne, in equal amounts, 25% of the remaining proceeds generated by the dispensaries in Crisfield and the West Princess Anne election districts.