Md. Code, State Finance and Procurement § 8-205
This is the official text of Md. Code, State Finance and Procurement § 8-205, part of Maryland’s Code, State Finance and Procurement — governs the state budget and government contracting.
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§8–205.
Official statutory text
(a) A State unit authorized to issue bonds may issue bonds:
(1) in coupon form; or
(2) notwithstanding any other provision of law, in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation proposed or adopted under those sections.
(b) Whenever a State unit provides for the sale of bonds in registered form, the State unit may:
(1) establish procedures for the registration and transfer of the bonds;
(2) appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;
(3) in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:
(i) custodian banks and their nominees; or
(ii) financial intermediaries and their nominees; and
(4) exercise any other power that relates to issuance of bonds in registered form.
(1) in coupon form; or
(2) notwithstanding any other provision of law, in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation proposed or adopted under those sections.
(b) Whenever a State unit provides for the sale of bonds in registered form, the State unit may:
(1) establish procedures for the registration and transfer of the bonds;
(2) appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;
(3) in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:
(i) custodian banks and their nominees; or
(ii) financial intermediaries and their nominees; and
(4) exercise any other power that relates to issuance of bonds in registered form.
Status: in_force · Read it on the official government site
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