Regulation .05 Adoption of Local Government Investment Policy and Submission for Acceptance.
Regulation .05 Adoption of Local Government Investment Policy and Submission for Acceptance.LinkCopy Citation
A.
The governing body of each local government unit shall adopt by resolution a written local government investment policy that:
(1)
Complies with the requirements of local and State law;
(2)
Satisfies the requirements of Regulations .03 and .04 of this chapter and COMAR 25.03.04; and
(3)
Meets the individual needs of the local government unit.
B.
Within 30 days following adoption, the governing body of each local government unit shall send a certified copy of its adopted policy and its adopting resolution to the State Treasurer for acceptance.