§ 4-250
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/md/housing-and-community-development/4-250A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4–250.
(a)A bond or note issued by the Administration under this part is a legal and proper investment for:
(1)a public officer, a political subdivision, or a governmental unit;
(2)a bank, trust company, savings and loan association, investment company, or other person doing a banking business;
(3)an insurance company, insurance association, or other person doing an insurance business;
(4)a personal representative, guardian, trustee, or other fiduciary; or
(5)any other person.
(b)For any purpose for which the deposit of a bond or other obligation of the State is authorized by law, a bond issued by the Administration under this part is a security that may legally and properly be deposited with and received by a public officer, a political subdivision, or a governmental unit.