{"data":{"id":"us-md/md.-code-local-government-17-308","jurisdiction":"us-md","citation":"Md. Code, Local Government § 17–308","heading":"","body":"(a) The governing authority of an authorized participant may direct its\nfinancial officer to remit to the State Treasurer for investment in the Pool money that:\n(1) is available for investment; and\n(2) is not required, by law or a covenant or agreement with\nbondholders or others, to be segregated and invested in a different manner.\n(b) The governing authority of an authorized participant having money\nintended for other postemployment benefits that are available for investment, as\nauthorized under § 17–102 of this title, may direct its financial officer to remit that\nmoney to the State Treasurer for investment in the Pool.\n(c) (1) If the governing authority of an authorized participant\ndetermines that it is in the best interest of the authorized participant to deposit\nmoney in the Pool, the governing authority shall:\n(i) adopt a resolution or ordinance authorizing the deposit;\nand\n(ii) file a certified copy of the resolution or ordinance with the\nState Treasurer accompanied by a statement of the approximate cash flow\nrequirements of the authorized participant for the invested money.\n(2) The resolution or ordinance shall indicate the official of the\nauthorized participant who is responsible for depositing money in and withdrawing\nmoney from the Pool.\n(d) Each subsequent deposit of money into the Pool shall be accompanied\nby a statement of:\n(1) the intended duration of the investment; or\n(2) the anticipated date of withdrawal of the money from the Pool.","path":["Article - Local Government"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=glg\u0026section=17-308","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:59:58Z","sha256":"37c20f5ed08d414a0ec6d0eba0fb1a18b7cdd6638fdf6c5f3a5d5429d57a81db","source_id":"us-md","stale":false,"prev":"us-md/md.-code-local-government-17-307","next":"us-md/md.-code-local-government-17-309"},"notice":"GroundRules: Original legal text. Not legal advice."}