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Maryland Code, Local Government § 19-204

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

(a) This section applies only to the following governmental entities:

(1) a county;

(2) a municipality;

(3) a public corporation of the State;

(4) a sanitary commission or district; and

(5) a unit, public corporation, or other instrumentality of a county or a municipality.

(b) Notwithstanding any other law, a governmental entity authorized to issue bonds may issue bonds in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation adopted under those sections.

(c) Whenever a governmental entity provides for the sale of bonds in registered form, the governmental entity may:

(1) establish procedures for the registration and transfer of the bonds;

(2) appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;

(3) in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:

(i) custodian banks and their nominees; or

(ii) financial intermediaries and their nominees; and

(4) exercise any other power that relates to issuance of bonds in registered form.

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Cite this article: FindLaw.com - Maryland Code, Local Government § 19-204 - last updated January 01, 2025 | https://codes.findlaw.com/md/local-government/md-code-local-govt-sect-19-204/

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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