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

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Article - Education
§18–19B–05.  
(a)    (1)   The debts, contracts, and obligations of the Broker–Dealer Plan are not the contracts, debts, or obligations of the State, and neither the faith and credit nor taxing power of the State is pledged directly or indirectly or contingently, morally or otherwise, to the payment of the debts, contracts, and obligations.
(2)   The Board cannot directly or indirectly or contingently obligate, morally or otherwise, the State to levy or pledge any form of taxation whatsoever for the debts and obligations of the Broker–Dealer Plan or to make any appropriation for the payment of the debts and obligations of the Broker–Dealer Plan.
(b)   Neither the State nor any eligible educational institution shall be liable for any losses or shortage of funds in the event that the account holder’s investment account balance is insufficient to meet the tuition requirements of an institution attended by the qualified designated beneficiary.
(c)   Moneys of the Broker–Dealer Plan may not be considered moneys of the State or deposited in the State Treasury.
(d)   Moneys of the Broker–Dealer Plan may not be considered moneys of or commingled with the Maryland Prepaid College Trust.
(e)   Moneys of the Broker–Dealer Plan may not be considered moneys of or commingled with the Maryland College Investment Plan.
(f)   Moneys of the Broker–Dealer Plan may not be considered moneys of or commingled with the Maryland ABLE Program.