About Statutes

This page accesses the Code of Maryland (Statutes) and the Maryland Municipal Charters and Resolutions as compiled and maintained by the Department of Legislative Services.

The Code is arranged by and organized into “Articles” (e.g. Transportation Article), which are further subdivided into “titles”, “subtitles”, “sections”, “subsections”, “paragraphs”, subparagraphs”, etc.

Note that the “official” compilation of the laws (Chapters) enacted at each session of the General Assembly is published by the State as the “Laws of Maryland”, commonly referred to as the “Session Laws”. The Session Laws for each session are compiled chronologically by chapter number and serve as the source law from which the statutes accessed here are derived.

While the “Laws of Maryland” (Session Laws) constitute the official laws of the State, this Code and the annotated versions noted below are accepted as “evidence” of the law in all State courts and by all public offices and officials (See § 10-201 of the Courts & Judicial Proceedings Article). However, in the event of a conflict between the Code and the Session Laws, the Session Laws prevail.

Note: Annotated versions of the Code, published by LexisNexis and West, are available in book and online formats. These Annotated Codes include references to case law, related citations, and explanatory notations.

The Municipal Charters are updated each year by incorporating all charter resolutions received by the Department through May 31 of that year. Individual Municipal Resolutions are published to the General Assembly website as they are received by the Department.



Statute Text

ati307800.tmp
Article - Local Government
§17–104.  
(a)   This section applies to the following governmental entities:
(1)   the governing body of each county;
(2)   the governing body or chief fiscal or administrative officer of each municipality;
(3)   the governing body or chief fiscal or administrative officer of:
(i)   each road, drainage, improvement, construction, or soil conservation district or commission; or
(ii)   the Upper Potomac River Commission;
(4)   each county board of education, including the Baltimore City Board of School Commissioners;
(5)   any other political subdivision or body politic and corporate of the State;
(6)   a unit of a political subdivision of the State; and
(7)   the trustees or other officers in charge of a pension or retirement system or fund of:
(i)   the State;
(ii)   a political subdivision of the State; or
(iii)   a unit of the State or of a political subdivision of the State.
(b)   Notwithstanding any other law, when a governmental entity is required or authorized to invest in, purchase, or take as collateral a bond, an obligation, or any other evidence of indebtedness of the United States, the governmental entity may invest in, purchase, or take as collateral an obligation or security of or other interest in an open–end or closed–end management type investment company or investment trust registered under the federal Investment Company Act of 1940, 15 U.S.C. § 80A–1 et seq., if:
(1)   the portfolio of the investment company or investment trust is limited to:
(i)   direct obligations of the United States; and
(ii)   repurchase agreements that are fully collateralized by obligations of the United States; and
(2)   the investment company or investment trust takes delivery of the collateral directly or through an authorized custodian.