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Current as of January 01, 2025 | Updated by Findlaw Staff
(a) A State unit authorized to issue bonds may issue bonds:
(1) in coupon form; or
(2) notwithstanding any other provision of law, in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation proposed or adopted under those sections.
(b) Whenever a State unit provides for the sale of bonds in registered form, the State unit 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.
Cite this article: FindLaw.com - Maryland Code, State Finance and Procurement § 8-205 - last updated January 01, 2025 | https://codes.findlaw.com/md/state-finance-and-procurement/md-code-state-fin-and-proc-sect-8-205/
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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