(a) A fixed asset financing loan assisted by a linked deposit is not a debt of the State or a pledge of the credit of the State.
(b) The Authority and, in accordance with § 5-521 of the Courts Article, the Department and the State are not liable to a lender for payment of the principal or interest on a fixed asset financing loan assisted by a linked deposit under this part.
Structure Maryland Statutes
Division I - Secretary of Commerce and Department of Commerce
Title 5 - Economic Development and Financial Assistance Programs
Subtitle 4 - Maryland Industrial Development Financing Authority
Part VI - Linked Deposit Program
Section 5-456 - Conditional Approval
Section 5-458 - Payment Schedule