Maryland Code, LOCAL GOVERNMENT 19-204
Terms Used In Maryland Code, LOCAL GOVERNMENT 19-204
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- County: means a county of the State or Baltimore City. See
- including: means includes or including by way of illustration and not by way of limitation. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See - Trustee: A person or institution holding and administering property in trust.
(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.