Current with changes from the 2024 Legislative Session
Section 19-204 - Form of bonds(a) This section applies only to the following governmental entities: (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.Revised and recodified by 2013 Md. Laws, Ch. 119,Sec. 2, eff. 10/1/2013.