(a) This section applies only to the following governmental entities: (1) a county; (2) a municipality; (3) a public corporation of the State; (4) a sanitary commission or district; and (5) a unit, public corporation, or other instrumentality of a county or a municipality. (b) Notwithstanding any other law, a governmental entity authorized to issue bonds may issue bonds in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation adopted under those sections. (c) Whenever a governmental entity provides for the sale of bonds in registered form, the governmental entity may: (1) establish procedures for the registration and transfer of the bonds; (2) appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent; (3) in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with: (i) custodian banks and their nominees; or (ii) financial intermediaries and their nominees; and (4) exercise any other power that relates to issuance of bonds in registered form.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.