Statutes > Maryland Statutes > COURTS AND JUDICIAL PROCEEDINGS > TITLE 5 - LIMITATIONS, PROHIBITED ACTIONS, AND IMMUNITIES > Subtitle 5 - Immunities and Prohibited Actions - Governmental > Section 5-521 - Immunity - Department of Business and Economic Development.

Section 5-521 - Immunity - Department of Business and Economic Development.

§ 5-521. Immunity - Department of Business and Economic Development.
  

(a)  Definitions.-  

(1) In this section the following words have the meanings indicated. 

(2) "Department" means the Department of Business and Economic Development. 

(3) "Eligible business" has the meaning stated in § 5-451 of the Economic Development Article. 

(4) "Lender" has the meaning stated in § 5-451 of the Economic Development Article. 

(b)  Nonliability for loans.- The Department and the State are not liable to any lender for payment of the principal or interest on a loan to an eligible business in accordance with § 5-451 of the Economic Development Article. 
 

[1990, ch. 546, § 3; 1995, ch. 120, § 19; 1997, ch. 14, § 9; 2003, ch. 21, § 1; 2004, ch. 25; 2008, ch. 307, § 1.]