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Maryland Code, Local Government § 1-1423

Current as of January 01, 2025 | Updated by Findlaw Staff

Bonds are securities:

(1) that may be deposited with and received by a unit of the State or a political subdivision of the State for any purpose for which the deposit of bonds or obligations of the State is authorized by law; and

(2) in which any of the following persons or entities may legally and properly invest money, including capital that the person or entity owns or controls:

(i) an officer or a unit of the State or a political subdivision of the State;

(ii) a bank, a trust company, a savings and loan association, an investment company, or any other person conducting a banking business;

(iii) an insurance company, an insurance association, or any other person conducting an insurance business;

(iv) a personal representative, a guardian, a trustee, or any other fiduciary; and

(v) any other person.

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Cite this article: FindLaw.com - Maryland Code, Local Government § 1-1423 - last updated January 01, 2025 | https://codes.findlaw.com/md/local-government/md-code-local-govt-sect-1-1423/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

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