# COMAR Title 25 — Office of the State Treasurer

## Subtitle 03 — Treasury Management

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

#### Regulation .05 Adoption of Local Government Investment Policy and Submission for Acceptance.

*COMAR 25.03.03.05*

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.