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§ 4-250. Bond or note of Administration--Legal status

West's Annotated Code of MarylandHousing and Community Development

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)
MD Code, Housing & Community Development, § 4-250
§ 4-250. Bond or note of Administration--Legal status
Currentness
Bond or note as legal investment
(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.
Bond as legal deposit security
(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.

Credits

Added by Acts 2005, c. 26, § 2, eff. Oct. 1, 2005.
MD Code, Housing & Community Development, § 4-250, MD HOUS & CMTY DEV § 4-250
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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