{"data":{"id":"us-md/md.-code-state-finance-and-procurement-8-302","jurisdiction":"us-md","citation":"Md. Code, State Finance and Procurement § 8–302","heading":"","body":"(a) In this section, “bond” means an obligation of the State or of any of its units or instrumentalities.\n(b) If a bond otherwise complies with the requirements of the Commercial Law Article for investment securities, the bond shall be considered to be an investment security notwithstanding that:\n(1) the resolution or other authority under which the bond is issued subjects the bond to an indenture or agreement that is separate from the resolution or authority;\n(2) the resolution or other authority under which the bond is issued limits payment of principal and interest to:\n(i) the proceeds of limited sources of revenue; or\n(ii) a special fund established for that purpose;\n(3) any law limits payment of principal and interest to a certain amount or rate of tax that may be imposed; or\n(4) principal or interest are registrable.\n(c) A bond that is considered to be an investment security under subsection (b) of this section has all the attributes of an investment security that are possessed by a bond that is:\n(1) issued on the full faith and credit of the issuer;\n(2) payable to bearer; and\n(3) secured as to the payment of principal and interest by the unlimited taxing power of the issuer.","path":["Article - State Finance and Procurement"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gsf\u0026section=8-302","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T20:00:48Z","sha256":"e29abb4d8f3e3a44a647a2f7cd47d0ddf93771b23f487ac5f4ab3340e36bc76b","source_id":"us-md","stale":false,"prev":"us-md/md.-code-state-finance-and-procurement-8-301","next":"us-md/md.-code-state-finance-and-procurement-8-303"},"notice":"GroundRules: Original legal text. Not legal advice."}