§ 19-204

Maryland § 19-204

• Jurisdiction: Maryland
• Article glg: Local Government
• Title: 19

Text

(a) This section applies only to the following governmental entities:

(1) a county;

(2) a municipality;

(3) a public corporation of the State;

(4) a sanitary commission or district; and

(5) a unit, public corporation, or other instrumentality of a county or a municipality.

(b) Notwithstanding any other law, a governmental entity authorized to issue bonds may issue bonds in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation adopted under those sections.

(c) Whenever a governmental entity provides for the sale of bonds in registered form, the governmental entity may:

(1) establish procedures for the registration and transfer of the bonds;

(2) appoint any agent, including an authenticating trustee, corporate trustee, paying agent, registrar, or transfer agent;

(3) in connection with the establishment and maintenance of a central depository system for the transfer or pledge of the bonds, make agreements with:

(i) custodian banks and their nominees; or

(ii) financial intermediaries and their nominees; and

(4) exercise any other power that relates to issuance of bonds in registered form.