(a)    In this section, “Fund” means the Historic Marker Program Fund.

(b)    There is a Historic Marker Program Fund in the Trust.

(c)    The purpose of the Fund is to produce and install historic markers at sites of statewide historical significance.

(d)    The Trust shall administer the Fund.

(e)    (1)    The Fund is a continuing, nonlapsing special fund that is not subject to § 7-302 of this article.

(2)    The State Treasurer shall hold and the Comptroller shall account for the Fund.

(f)    The Fund consists of:

(1)    money appropriated to the Fund in the State budget;

(2)    money recovered by the State to replace damaged or destroyed historic markers; and

(3)    money from any other source received for the benefit of the Fund.

(g)    The Trust may use money from the Fund to produce and install a historic marker at a site that the Trust determines to have statewide historical significance:

(1)    if the site is on State-owned land; or

(2)    if the site is not on State-owned land and at least one-half of the cost of producing and installing the historic marker is provided from sources other than the State.

(h)    Money in the Fund shall be invested in the same manner as other State money.

(i)    (1)    The Trust shall approve the form and text of historic markers produced and installed under this section.

(2)    Except as provided in paragraph (3) of this subsection, the Trust shall approve the location of a historic marker.

(3)    If a historic marker is to be placed within the right-of-way of a public highway or street, the unit of the State or the political subdivision that maintains the public highway or street shall approve the location and manner of installation of the historic marker.

(j)    The State owns the historic markers produced and installed under this section.