Md. Code, Economic Development § 12-712
Md. Code, Economic Development § 12-712
in effect§12–712. IN EFFECT
// EFFECTIVE UNTIL SEPTEMBER 30, 2029 PER CHAPTERS 215 AND 216 OF 2025 //
(a) The Authority may create and administer the accounts that it requires.
(b) The Authority shall deposit its money into a Baltimore City or national bank or a federally insured savings and loan association that has a total paid–in capital of at least $1,000,000.
(c) The Authority may designate the trust department of a Baltimore City or national bank or savings and loan association as a depository to receive securities that the Authority owns or acquires.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gec§ion=12-712&enactments=falseFetched: 10/16/2026