Md. Code, Local Government § 1-1423
Md. Code, Local Government § 1-1423
in effectBonds 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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg§ion=1-1423&enactments=falseFetched: 10/17/2026