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 or unit of the State or a political subdivision;
(ii) a bank, trust company, savings and loan association, investment company, or other person conducting a banking business;
(iii) an insurance company, insurance association, or other person conducting 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 unit of the State or a political subdivision for any purpose for which the deposit of bonds or obligations of the State is authorized by law.
Structure Maryland Statutes
Division II - Independent and Regional Development Units and Resources
Title 10 - Statewide Development Resources and Revenue Authorities
Subtitle 3 - Maryland Health and Higher Educational Facilities Authority
Section 10-323 - General Authorization
Section 10-324 - Trust Agreement
Section 10-325 - Legal Investments
Section 10-326 - Liability; Full Faith and Credit
Section 10-327 - Rates, Rents, Fees and Charges
Section 10-328 - Sinking Fund -- Established
Section 10-329 - Sinking Fund -- Nature and Application
Section 10-330 - Use of Bond Proceeds and Revenues
Section 10-331 - Refunding Bonds -- in General
Section 10-332 - Refunding Bonds -- Application of Bond Proceeds
Section 10-333 - Refunding Bonds -- Investment or Reinvestment in United States Obligations
Section 10-334 - Bond Anticipation Notes
Section 10-335 - Title Conveyance; Release of Security