Section 10-119 - Bonds - Legal investments. - Maryland Statutes

§ 10-119. Bonds - Legal investments.
 

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. 
 

[An. Code 1957, art. 83A, § 5-209; 2008, ch. 306, § 2.]