§ 19–204
Statutes in effect as of October 1, 2026.
Md. Code Ann., Local Gov't § 19-204 (2026)
Title 19. Public Debt
Subtitle 2. Public Securities
§ 19–204LinkCopy Citation
(a)
This section applies only to the following governmental entities:
(1)
a county;
(2)
a municipality;
(3)
a public corporation of the State;
(4)
a sanitary commission or district; and
(5)
a unit, public corporation, or other instrumentality of a county or a municipality.
(b)
Notwithstanding any other law, a governmental entity authorized to issue bonds may issue bonds in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation adopted under those sections.
(c)
Whenever a governmental entity provides for the sale of bonds in registered form, the governmental entity 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.