§ 2-602
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/md/state-finance-and-procurement/2-602A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§2–602.
(a)The Treasurer shall deposit in a box or vault as provided in subsection
(b)of this section:
(1)all of the physical securities that the State owns; and
(2)all of the physical securities that, by State law, the Treasurer holds, in trust or otherwise, for a corporation or individual.
(1)With the approval of the Board of Public Works, the Treasurer shall procure a box or vault.
(2)The box or vault shall be located in the offices of the Treasurer.
(3)Each box or vault in which securities are kept shall be built so that 2 different keys are needed to gain access to the securities.
(4)The Comptroller and the Treasurer each shall have 1 of these keys.
(5)Access to a box or vault in which physical securities are kept under this section shall be permitted only:
(i)when the Governor, the Comptroller, the Chief Deputy Comptroller, or a Deputy Comptroller accompanies the Treasurer; or
(ii)if access is needed and the Treasurer cannot be present:
1. when the Governor, the Comptroller, the Chief Deputy Comptroller, or a Deputy Comptroller accompanies the Chief Deputy Treasurer; or
2. when the Governor, the Comptroller, or the Chief Deputy Comptroller accompanies a Deputy Treasurer.
(c)The Treasurer shall determine which physical securities are deposited or held in each box or vault.