(a) Except as provided in this subtitle, the Board and lender jointly shall determine the amount and terms of the guarantee of the loan or the subsidy of loan interest.
(b) The total aggregate amount of a loan guarantee may be up to 100% of the loan.
(c) The total aggregate amount of the loan guarantees to be provided from the Fund in any given year shall be set annually by the Board in accordance with the requirements of the banks underwriting the loans at any given time.
Structure Maryland Statutes
Title 7 - Individuals With Disabilities
Subtitle 6 - Assistive Technology Loan Program
Section 7-602 - Program Established
Section 7-603 - Purpose of Program
Section 7-604 - Board of Directors -- Established
Section 7-605 - Board of Directors -- Membership
Section 7-606 - Board of Directors -- Chair
Section 7-607 - Board of Directors -- Quorum; Meetings; Compensation; Staff
Section 7-608 - Board Authorized to Guarantee Loans and Provide Interest Subsidies
Section 7-609 - Applications; Board Review of Applications
Section 7-611 - Amount and Terms of Loan Guarantees and Interest Subsidies
Section 7-612 - Violations of Loan Provisions
Section 7-613 - Assistive Technology Loan Fund
Section 7-614 - Assistive Technology Loan Fund -- Composition; Use of Fund
Section 7-615 - Assistive Technology Loan Fund -- Annual Report by Treasurer