Md. Code, Public Utilities § 22-109
Md. Code, Public Utilities § 22-109
in effectTo ensure the prompt payment of interest and provision for the payment of the principal on bonds issued under this subtitle:
(1) the prompt and proper performance of the acts required under §§ 22–106 and 22–108 of this subtitle is specially enjoined; and
(2) a person who is required to act under §§ 22–106 and 22–108 of this subtitle:
(i) shall perform the acts required under those sections;
(ii) shall pay over any funds as required under those sections; and
(iii) may not use any part of the funds for any other purpose than for the payment of principal and interest on the bonds.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gpu§ion=22-109&enactments=falseFetched: 10/17/2026