(a) This section applies to Allegany County, Calvert County, Charles County, Frederick County, Garrett County, Kent County, and St. Mary’s County.

(b) The county commissioners of a county subject to this section have the express power to guarantee or insure financial loans made by a governmental third party to a volunteer fire company that:

(1) is located within the county; or

(2) has a mutual aid agreement with the county.