§ 21-513

Bonds issued under this subtitle are securities:

(1) that may be deposited with and received by a unit of the State or a political subdivision for any purpose for which the deposit of bonds or obligations of the State is authorized by law; and

(2) in which any of the following persons or entities may invest money:

(i) an officer or a unit of the State or a political subdivision of the State;

(ii) a bank, a trust company, a savings and loan association, or an investment company;

(iii) an insurance company; and

(iv) a personal representative, a trustee, or any other fiduciary.