Section 1-1423 - SecuritiesBonds are securities:
(1) that may be deposited with and received by a unit of the State or a political subdivision of the State for any purpose for which the deposit of bonds or obligations of the State is authorized by law; and(2) in which any of the following persons or entities may legally and properly invest money, including capital that the person or entity owns or controls: (i) an officer or a unit of the State or a political subdivision of the State;(ii) a bank, a trust company, a savings and loan association, an investment company, or any other person conducting a banking business;(iii) an insurance company, an insurance association, or any other person conducting an insurance business;(iv) a personal representative, a guardian, a trustee, or any other fiduciary; andRenumbered as § -1-1423 by 2017 Md. Laws, Ch. 619,Sec. 1, eff. 10/1/2017.Renumbered as § -1-1423 by 2017 Md. Laws, Ch. 618,Sec. 1, eff. 10/1/2017.Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.