Maryland Statutes
Part IV - Bonds
Section 10-842 - 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 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