Section 10-484 - Loans and pledges of assets.
§ 10-484. Loans and pledges of assets.
(a) In general.- To facilitate the rehabilitation, liquidation, conservation, or dissolution of a provider under this subtitle, the Secretary, subject to the approval of the court, may:
(1) borrow money;
(2) execute, acknowledge, and deliver notes or other evidences of indebtedness for the loan;
(3) secure the repayment of the loan by the mortgage, pledge, assignment, or transfer in trust of all or part of the property of the provider; and
(4) take any other action necessary and proper to consummate the loan and to provide for its repayment.
(b) Obligation of Secretary.- The Secretary is not obligated personally or in an official capacity to repay a loan made under this section.
[An. Code 1957, art. 70B, § 20L; 2007, ch. 3, § 2.]