Md. Code Regs. 25.03.03.03

Current through Register Vol. 51, No. 12, June 14, 2024

Section 25.03.03.03 - [Effective 10/22/2024] General Requirements for Adoption of Local Government Investment Policy

A. The governing body of each local government unit shall adopt by resolution a written investment policy that:

(1) Complies with State and local law, including:

(a) State Finance and Procurement Article, § 6-222, Annotated Code of Maryland, and

(b) Article 95, § 22F, Annotated Code of Maryland; and

(2) Meets or exceeds standards published by nationally recognized financial management organizations recognized by the State Treasurer.

B. The State Treasurer recognizes the standards published by the following nationally recognized financial management organizations:

(1) GFOA; and

(2) Municipal Treasurer's Association.

C. The board of education and the board of library trustees of a county need not adopt a written investment policy but shall invest in compliance with the accepted policy of the county.

Md. Code Regs. 25.03.03.03

Regulations .03 adopted as an emergency provision effective August 1, 1995 (22:17 Md. R. 1310); emergency status expired February 1, 1996
Regulations .03 adopted effective February 26, 1996 (23:4 Md. R. 274); amended effective 51:11 Md. R. 577, effective 4/25/2024, exp. 10/22/2024 (Emergency).