The governing body of each local government unit shall adopt by resolution a written local government investment policy that: Complies with the requirements of local and State law; Satisfies the requirements of Regulations .03 and .04 of this chapter and COMAR 25.03.04; and Meets the individual needs of the local government unit. 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.