§ 4-247. Trust agreement
West's Annotated Code of MarylandHousing and Community DevelopmentEffective: October 1, 2013
West's Annotated Code of Maryland
Housing and Community Development (Refs & Annos)
Division I. Housing and Community Programs [Titles 1-11] (Refs & Annos)
Title 4. Division of Development Finance (Refs & Annos)
Subtitle 2. Community Development Administration (Refs & Annos)
Part V. Development Expenditures; Administration Bonds and Notes (Refs & Annos)
Effective: October 1, 2013
MD Code, Housing & Community Development, § 4-247
§ 4-247. Trust agreement
(a)(1) Bonds or notes that the Administration issues may be secured by a trust agreement between the Administration and a trustee that is in or out of the State.
(b) A trust agreement or a determination authorizing the issuance of bonds or notes may contain:
(4) provisions that appoint one or more trust companies or banks with trust powers to act as depositaries of the proceeds of bonds or notes or of any revenues or money of the Administration, with any indemnifying bonds or securities required by the Administration allowed to be given or pledged by any depositary bank or trust company incorporated in the State;
Credits
Added by Acts 2005, c. 26, § 2, eff. Oct. 1, 2005. Amended by Acts 2013, c. 136, § 1, eff. Oct. 1, 2013.
MD Code, Housing & Community Development, § 4-247, MD HOUS & CMTY DEV § 4-247
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.
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