Current with changes from the 2024 Legislative Session
Section 10-503 - Status; investments(a)(1) Each fund is a special continuing, nonlapsing fund that is not subject to § 7-302 of the State Finance and Procurement Article.(2)(i) Each fund consists of:1. profits derived from the sale of goods through the commissary operation and telephone and vending machine commissions; and2. subject to subparagraph (ii) of this paragraph, money received from other sources.(ii) Money from the General Fund of the State may not be transferred by budget amendment or otherwise to a fund.(3) The Treasurer shall separately hold and the Comptroller shall account for each fund.(4) Each fund is subject to an audit by the Office of Legislative Audits under § 2-1220 of the State Government Article.(b)(1) Each fund shall be invested and reinvested in the same manner as other State funds.(2) Any investment earnings are not a part of the fund.