(a) The Corporation may create and administer the accounts that it requires.
(b) The Corporation shall deposit its money into a State or national bank or a federally insured savings and loan association that has a total paid-in capital of at least $1,000,000.
(c) The Corporation may designate the trust department of a State bank, national bank, or savings and loan association as a depository to receive securities that the Corporation owns or acquires.
(d) Unless an agreement or covenant between the Corporation and the holders of its obligations limits classes of investments, the Corporation may invest its money in bonds or other obligations of, or guaranteed as to principal and interest by, the United States, the State, or a governmental unit.
Structure Maryland Statutes
Division II - Independent and Regional Development Units and Resources
Title 10 - Statewide Development Resources and Revenue Authorities
Subtitle 1 - Maryland Economic Development Corporation
Section 10-102 - Construction of Subtitle
Section 10-103 - Scope of Subtitle
Section 10-104 - Legislative Findings; Purposes; Intent
Section 10-106 - Board of Directors
Section 10-108 - Quorum; Meetings
Section 10-109 - Executive Director
Section 10-110 - Staff; Consultants
Section 10-111 - Applicability of Laws
Section 10-112 - Findings of Board
Section 10-113 - Accounting; Fiscal Year
Section 10-114 - Money of Corporation
Section 10-115 - Powers -- in General
Section 10-116 - Powers -- Projects
Section 10-117 - Powers -- Debt
Section 10-118 - Bonds -- in General
Section 10-119 - Bonds -- Legal Investments
Section 10-120 - Bonds -- Liability; Full Faith and Credit
Section 10-121 - Bonds -- Trust Agreement
Section 10-122 - Bonds -- Investment of Proceeds
Section 10-123 - Bonds -- Refunding Bonds
Section 10-124 - Bonds -- Enforcement of Rights and Duties
Section 10-125 - Project Financing
Section 10-126 - Rates and Charges
Section 10-128 - Transfer of Real Property
Section 10-130 - Dorchester County Economic Development Fund