§ 10-119
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/md/economic-development/10-119A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–119.
Bonds are securities:
(1)in which any of the following persons may legally and properly invest money, including capital that the person owns or controls:
(i)an officer of a governmental unit;
(ii)a bank, trust company, savings and loan association, investment company, or other person operating a banking business;
(iii)an insurance association or other person operating an insurance business;
(iv)a personal representative, guardian, trustee, or other fiduciary; and
(v)any other person; and
(2)that may be deposited with and received by a governmental unit or any officer of the State or a governmental unit for any purpose for which the deposit of bonds or other obligations of the State is authorized by law.