1. A. Transfers. Funds may be transferred between the various State bank accounts by means of an alternative method of funds transfer authorized by Regulation .01 of this chapter.

2. B. Disbursements. Upon warrant of the Comptroller, State funds may be disbursed by means of an alternative method of funds transfer authorized by Regulation .01 of this chapter for the payment of:

   1. (1) Principal, interest, or both, on State debt or the debt of a unit of State government;
   2. (2) Major routine State grants and shared-revenue disbursements to the political subdivisions of the State and to the units of those subdivisions;

   3. (3) State payroll-related disbursements, including, but not limited to:

      1. (a) Retirement, pension, and FICA contributions,
      2. (b) Taxes,
      3. (c) Insurance premiums,
      4. (d) Voluntary deductions, and
      5. (e) Net pay;
   4. (4) Disbursements to the federal government or to a state government;
   5. (5) Disbursements for the acquisition of investments by the Treasurer; and
   6. (6) Other disbursements that, in the judgment of the Comptroller and the Treasurer, or the authorized representative of either, are, in the interest of the State, best made by an alternative method of funds transfer.

Authority: State Finance and Procurement Article, §7-227.1; State Personnel and Pensions Article, §2-405; Annotated Code of Maryland

Effective date: October 30, 1989 (16:21 Md. R. 2263)

Regulations .02B amended and .03—.05 adopted as an emergency provision effective January 1, 2001 (28:4 Md. R. 415); amended permanently effective May 28, 2001 (28:10 Md. R. 950)