{"data":{"id":"us-md/md.-code-economic-development-5-528","jurisdiction":"us-md","citation":"Md. Code, Economic Development § 5–528","heading":"","body":"(a) The Authority may set the terms and conditions for a loan guaranty made under § 5-525(a) of this subtitle.\n(b) (1) If the Authority decides to lend money from the Fund to an applicant under § 5-525(c) of this subtitle, the Authority shall prepare loan documents that include:\n(i) the interest rate on the loan that equals the market rate for a conventional loan of comparable risk unless the Authority determines that a lower rate better serves the purposes of this subtitle;\n(ii) a disbursement schedule that provides enough money to the applicant when the applicant needs it to perform the contract;\n(iii) a requirement that the applicant and the Authority co-sign each request for an advance of money before release of the money; and\n(iv) provisions for repayment of the loan.\n(2) The loan documents may include any other provision that the Authority determines is necessary to secure the loan, including an assignment of or a lien on payment under the contract.","path":["Article - Economic Development"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec\u0026section=5-528","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:57:28Z","sha256":"ee8f2adbd4a4f0e4d745803f805e029b41de1234cff7a088e4478f156d6e5b9a","source_id":"us-md","stale":false,"prev":"us-md/md.-code-economic-development-5-527","next":"us-md/md.-code-economic-development-5-529"},"notice":"GroundRules: Original legal text. Not legal advice."}