# Labor and Employment (GLE)

## Title 10. Funds

### Subtitle 3. Uninsured Employers' Fund

#### Section 10-318

(a)

  (1) The State Treasurer shall invest surplus money of the Fund in any security in which a savings bank may invest under State law.

  (2) If the State Treasurer invests in a certificate of deposit, it shall:

    (i) be interest bearing;

    (ii) be issued by:

      (1) a bank located and authorized to do business in the State;

      (2) a national banking association located in the State; or

      (3) a trust company located and authorized to do business in the State; and

    (iii) be secured in full by a pledge of a direct obligation of the State or United States.

(b) If sale of a security in which money of the Fund is invested is in the best interest of the Fund, the State Treasurer may sell the security.

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Md. Code Ann., Lab. & Empl. (as displayed at mgaleg.maryland.gov, October 16, 2026)