§ 4–250
Statutes in effect as of October 1, 2026.
Md. Code Ann., Hous. & Cmty. Dev. § 4-250 (2026)
Title 4. Division of Development Finance
Subtitle 2. Community Development Administration
§ 4–250LinkCopy Citation
(a)
A bond or note issued by the Administration under this part is a legal and proper investment for:
(1)
a public officer, a political subdivision, or a governmental unit;
(2)
a bank, trust company, savings and loan association, investment company, or other person doing a banking business;
(3)
an insurance company, insurance association, or other person doing an insurance business;
(4)
a personal representative, guardian, trustee, or other fiduciary; or
(5)
any other person.
(b)
For any purpose for which the deposit of a bond or other obligation of the State is authorized by law, a bond issued by the Administration under this part is a security that may legally and properly be deposited with and received by a public officer, a political subdivision, or a governmental unit.