§ 6–223
Statutes in effect as of October 1, 2026.
Md. Code Ann., State Fin. & Proc. § 6-223 (2026)
Title 6. Revenues
Subtitle 2. State Treasury
§ 6–223LinkCopy Citation
(a)
Except as otherwise prohibited by law, the Treasurer may invest or reinvest, in a deposit with a financial institution in the State, unexpended or surplus money over which the Treasurer has custody if:
(1)
the deposit is interest bearing; and
(2)
as provided for a depositary for State money:
(i)
the financial institution provides collateral that has a market value that equals or exceeds the amount by which a deposit exceeds the deposit insurance; and
(ii)
a custodian holds the collateral.
(b)
The Treasurer may sell, redeem, or exchange an investment or reinvestment made under this section.