{"data":{"id":"us-md/md.-code-local-government-17-204","jurisdiction":"us-md","citation":"Md. Code, Local Government § 17–204","heading":"","body":"(a) (1) After consulting with the governmental entities, the State\nTreasurer shall adopt by regulation local government investment guidelines to\ngovern the investment of public money by the entities in a manner that:\n(i) facilitates sound cash management;\n(ii) protects the public; and\n(iii) ensures that each entity has access to its public money.\n(2) Prior to adopting regulations that alter the types of investments\nin which governmental entities may invest public money, the State Treasurer shall\nconsult with the governmental entities.\n(b) The local government investment guidelines shall:\n(1) specify the types of investments in which public money may be\ninvested;\n(2) include guidance for the prudent investment of public money\nbased on cash flow projections, income, liquidity, investment ratings, and risk;\n(3) require that investments by a county board of education and a\ncounty board of library trustees comply with the local investment policy of the county;\nand\n(4) prohibit the borrowing of money for the express purpose of\ninvestment.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=17-204","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"0876d612e8e317e457b8da6070f8d080bfcc933d3672284a45f3191b895170e4","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-17-203","next":"us-md/md.-code-local-government-17-205"},"notice":"GroundRules: Original legal text. Not legal advice."}