# Economic Development (GEC)

## Title 10. Statewide Development Resources and Revenue Authorities

### Subtitle 1. Maryland Economic Development Corporation

#### Section 10-119

Bonds are securities:

(1) in which any of the following persons may legally and properly invest money, including capital that the person owns or controls:

  (i) an officer of a governmental unit;

  (ii) a bank, trust company, savings and loan association, investment company, or other person operating a banking business;

  (iii) an insurance association or other person operating an insurance business;

  (iv) a personal representative, guardian, trustee, or other fiduciary; and

  (v) any other person; and

(2) that may be deposited with and received by a governmental unit or any officer of the State or a governmental unit for any purpose for which the deposit of bonds or other obligations of the State is authorized by law.

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Md. Code Ann., Econ. Dev. (as displayed at mgaleg.maryland.gov, October 16, 2026)