§ 1–1423
Statutes in effect as of October 1, 2026.
Md. Code Ann., Local Gov't § 1-1423 (2026)
Title 1. Definitions; General Provisions
Subtitle 14
§ 1–1423LinkCopy Citation
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.