About Statutes

This page accesses the Code of Maryland (Statutes) and the Maryland Municipal Charters and Resolutions as compiled and maintained by the Department of Legislative Services.

The Code is arranged by and organized into “Articles” (e.g. Transportation Article), which are further subdivided into “titles”, “subtitles”, “sections”, “subsections”, “paragraphs”, subparagraphs”, etc.

Note that the “official” compilation of the laws (Chapters) enacted at each session of the General Assembly is published by the State as the “Laws of Maryland”, commonly referred to as the “Session Laws”. The Session Laws for each session are compiled chronologically by chapter number and serve as the source law from which the statutes accessed here are derived.

While the “Laws of Maryland” (Session Laws) constitute the official laws of the State, this Code and the annotated versions noted below are accepted as “evidence” of the law in all State courts and by all public offices and officials (See § 10-201 of the Courts & Judicial Proceedings Article). However, in the event of a conflict between the Code and the Session Laws, the Session Laws prevail.

Note: Annotated versions of the Code, published by LexisNexis and West, are available in book and online formats. These Annotated Codes include references to case law, related citations, and explanatory notations.

The Municipal Charters are updated each year by incorporating all charter resolutions received by the Department through May 31 of that year. Individual Municipal Resolutions are published to the General Assembly website as they are received by the Department.



Statute Text

ati534024.tmp
Article - Education
§18–107.  
(a)    (1)   Each year, money for each student financial assistance program administered by the Office shall be included in the State budget.
(2)   Each year, the Governor shall include in the State budget at least 80 percent of the funds appropriated in the prior fiscal year for need–based programs as provided in §§ 18–301, 18–706(f), 18–1401, 18–1501, and 18–2601 of this title.
(b)   Except as otherwise provided in this title, money appropriated under this title that is not used by the end of the fiscal year shall be deposited in the Need–based Student Financial Assistance Fund.
(c)    (1)   In this subsection, “Fund” means the Need–based Student Financial Assistance Fund.
(2)   There is a Need–based Student Financial Assistance Fund.
(3)   The purpose of the Fund is to allow money appropriated for student financial assistance programs that is not used in a fiscal year to be retained for need–based awards in future fiscal years.
(4)   The Commission shall administer the Fund.
(5)    (i)   The Fund is a special, nonlapsing fund that is not subject to § 7–302 of the State Finance and Procurement Article.
(ii)   The State Treasurer shall hold the Fund and the Comptroller shall account for the Fund.
(6)   The Fund consists of:
(i)   Money distributed to the Fund under subsection (b) of this section; and
(ii)   Any other money from any other source accepted for the benefit of the Fund.
(7)    (i)   The Fund may be used only for making need–based financial assistance awards to students as provided in §§ 18–301, 18–601, 18–604, 18–706(f), 18–1401, 18–14A–01, 18–1501, 18–2507, and 18–2601 of this title.
(ii)   The Fund may not be used for administrative expenses.
(8)    (i)   The State Treasurer shall invest the money of the Fund in the same manner as other State money may be invested.
(ii)   Any investment earnings on the funds in the account shall be paid into the General Fund of the State.
(9)   Expenditures from the Fund may be made only in accordance with the State budget.