# COMAR Title 25 — Office of the State Treasurer

## Subtitle 03 — Treasury Management

### Chapter 03 — Local Government Investment Guidelines and Reporting Requirements

#### Regulation .04 State Law Requirements for Adoption of Local Government Investment Policy.

*COMAR 25.03.03.04*

A. At a minimum, each adopted policy shall:

  (1) Allow local government units to invest in only those types of securities authorized by:

    (a) State Finance and Procurement Article, §6-222(a), Annotated Code of Maryland;

    (b) Local Government Article, §17-201 et seq., Annotated Code of Maryland; and;

    (c) COMAR 25.03.04;

  (2) Require that investments made by local government units comply with the standards of COMAR 25.03.04;

  (3) Prohibit the borrowing of money for the sole purpose of investment; and

  (4) Require that the local government unit’s financial officer not invest public money of the local government unit in a manner inconsistent with its adopted policy.

B. A local government unit may include additional requirements in its adopted policy.