2013 Maryland Code
ECONOMIC DEVELOPMENT
§ 10-119 - Bonds -- Legal investments
§10-119.
Bonds are securities:
(1) in which any of the following persons may legally and properly invest money, including capital that the person owns or controls:
(i) an officer of a governmental unit;
(ii) a bank, trust company, savings and loan association, investment company, or other person operating a banking business;
(iii) an insurance association or other person operating an insurance business;
(iv) a personal representative, guardian, trustee, or other fiduciary; and
(v) any other person; and
(2) that may be deposited with and received by a governmental unit or any officer of the State or a governmental unit for any purpose for which the deposit of bonds or other obligations of the State is authorized by law.
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