§ 10-817
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/md/economic-development/10-817A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§10–817.
(a)The Center may create and administer the accounts that it requires.
(b)The Center shall deposit its money into a State 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 Center may designate the trust department of a State bank, national bank, or savings and loan association as a depository to receive securities that the Center owns or acquires.
(d)Unless an agreement or covenant between the Center and the holders of its obligations limits classes of investments, the Center may invest its money in bonds or other obligations of, or guaranteed as to principal and interest by, the United States, the State, or a governmental unit.