Maryland State Finance and Procurement Section 2-602.1
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§ 2-602.1.
The Treasurer shall maintain all securities other than physical securities with:
(1) any institution incorporated under the laws of the State as a State bank, trust company, or savings bank;
(2) any national banking association that has its principal office in the State; or
(3) any trust company, as defined in § 1-101 of the Estates and Trusts Article.