{"data":{"id":"us-md/md.-code-environment-9-941","jurisdiction":"us-md","citation":"Md. Code, Environment § 9–941","heading":"","body":"(a) An authority shall pay the principal of and interest on its bonds only from the funds from which this subtitle authorizes payment.\n(b) For any bond that an authority issues, the authority:\n(1) Shall place the date of issue on the bond;\n(2) Shall set the maturity date for the bond, which shall be any time up to 40 years from the date of issue; and\n(3) May provide for the redemption of the bond before maturity:\n(i) At the option of the authority; and\n(ii) At a price and on terms and conditions that the authority fixes before it issues the bond.\n(c) A bond or certificate that otherwise conforms to this section is valid and sufficient for all purposes whether or not the officer whose signature or a facsimile of whose signature is on the bond or certificate is still an officer when the bond or certificate is delivered.\n(d) An authority:\n(1) Shall determine the form of its bonds; and\n(2) May issue its bonds in coupon or registered form or both.\n(e) An authority shall determine:\n(1) The manner of execution of its bonds;\n(2) The denominations of its bonds; and\n(3) The places for payment of the principal of and interest on its bonds, which may be any bank or trust company.\n(f) A bond issued under this subtitle is fully negotiable as provided in Title 8 of the Commercial Law Article.\n(g) An authority may provide for:\n(1) The registration of any coupon bond as to:\n(i) Principal only; or\n(ii) Both principal and interest; and\n(2) The reconversion into a coupon bond of any bond that is registered as to both principal and interest.","path":["Article - Environment"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gen\u0026section=9-941","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:57:58Z","sha256":"c864c29c2a332c5529a1f0702e1ff0142a619c6f460a0aff1e75962b99e3505c","source_id":"us-md","stale":false,"prev":"us-md/md.-code-environment-9-940","next":"us-md/md.-code-environment-9-942"},"notice":"GroundRules: Original legal text. Not legal advice."}