(1) that may be deposited with and received by a unit of the State or a political subdivision of the State for any purpose for which the deposit of bonds or obligations of the State is authorized by law; and
(2) in which any of the following persons or entities may legally and properly invest money, including capital that the person or entity owns or controls:
(i) an officer or a unit of the State or a political subdivision of the State;
(ii) a bank, a trust company, a savings and loan association, an investment company, or any other person conducting a banking business;
(iii) an insurance company, an insurance association, or any other person conducting an insurance business;
(iv) a personal representative, a guardian, a trustee, or any other fiduciary; and
(v) any other person.
Credits
Added as Local Government § 5-423 by Acts 2013, c. 119, § 2, eff. Oct. 1, 2013. Renumbered as Local Government § 1-1423 by Acts 2017, c. 618, § 1, eff. Oct. 1, 2017; Acts 2017, c. 619, § 1, eff. Oct. 1, 2017.
MD Code, Local Government, § 1-1423, MD LOCAL GOVT § 1-1423
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
