{"data":{"id":"us-md/md.-code-local-government-17-305","jurisdiction":"us-md","citation":"Md. Code, Local Government § 17–305","heading":"","body":"(a) The State Treasurer shall establish investment policies for the Pool.\n(b) Subject to the objectives and requirements of this part, the State\nTreasurer shall establish procedures for:\n(1) the investment and reinvestment of money in the Pool; and\n(2) the acquisition, retention, management, and disposition of\ninvestments of the Pool.\n(c) (1) The State Treasurer shall invest money in the Pool in accordance\nwith §§ 6–222 and 6–223 of the State Finance and Procurement Article.\n(2) Notwithstanding any other law, the State Treasurer may:\n(i) invest and reinvest money in the Pool in bankers’\nacceptances guaranteed by banks; and\n(ii) sell, redeem, or exchange an investment or reinvestment\nmade under this paragraph.\n(d) Except as otherwise provided in this part, the State Treasurer shall\nretain custody of all instruments of title to all investments of the Pool.\n(e) (1) The State Treasurer may deposit with one or more fiscal agents\nor banks any instruments of title to investments of the Pool that the State Treasurer\nconsiders advisable.\n(2) A fiscal agent or bank shall hold any instruments of title\ndeposited with the agent or bank for collection of:\n(i) the principal of and interest or other income from the\ninvestments; or\n(ii) the proceeds of sale of the investments.\n(f) The State Treasurer shall collect the principal of and interest or other\nincome from investments of the Pool, the instruments of title to which are in the State\nTreasurer’s custody, when due and payable.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=17-305","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"50ab20653cfb7a0ac7f16f000ae82efb1a1c305df75e99343c70190d86ed0a58","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-17-304","next":"us-md/md.-code-local-government-17-306"},"notice":"GroundRules: Original legal text. Not legal advice."}