The Executive Director shall consider the petition and may issue the declaratory ruling requested. The Executive Director may require argument on the petition. A declaratory ruling is binding upon the Authority and the petitioner, to the extent permitted by law, on the facts alleged. Any declaratory ruling issued shall be in writing and shall state the reasons for the decision. A copy of the declaratory ruling shall be delivered to the petitioner.

Authority: Financial Institutions Article, §13-1008(4); State Government Article, §10-304; Annotated Code of Maryland

Effective date: December 18, 1995 (22:25 Md. R. 1964)