§ 8-205

Maryland § 8-205

• Jurisdiction: Maryland
• Article gsf: State Finance and Procurement
• Title: 8

Text

(a) A State unit authorized to issue bonds may issue bonds:

(1) in coupon form; or

(2) notwithstanding any other provision of law, in a form that qualifies as a registered form under §§ 103 and 149 of the Internal Revenue Code or a regulation proposed or adopted under those sections.

(b) Whenever a State unit provides for the sale of bonds in registered form, the State unit 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.