Md. Code, Local Government § 1-1423
This is the official text of Md. Code, Local Government § 1-1423, part of Maryland’s Code, Local Government — governs the powers and operations of Maryland counties and municipalities.
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§1–1423.
Official statutory text
Bonds are securities:
(1) that may be deposited with and received by a unit of the State or a political subdivision of the State for any purpose for which the deposit of bonds or obligations of the State is authorized by law; and
(2) in which any of the following persons or entities may legally and properly invest money, including capital that the person or entity owns or controls:
(i) an officer or a unit of the State or a political subdivision of the State;
(ii) a bank, a trust company, a savings and loan association, an investment company, or any other person conducting a banking business;
(iii) an insurance company, an insurance association, or any other person conducting an insurance business;
(iv) a personal representative, a guardian, a trustee, or any other fiduciary; and
(v) any other person.
(1) that may be deposited with and received by a unit of the State or a political subdivision of the State for any purpose for which the deposit of bonds or obligations of the State is authorized by law; and
(2) in which any of the following persons or entities may legally and properly invest money, including capital that the person or entity owns or controls:
(i) an officer or a unit of the State or a political subdivision of the State;
(ii) a bank, a trust company, a savings and loan association, an investment company, or any other person conducting a banking business;
(iii) an insurance company, an insurance association, or any other person conducting an insurance business;
(iv) a personal representative, a guardian, a trustee, or any other fiduciary; and
(v) any other person.
Status: in_force · Read it on the official government site
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