§21–419.

    Bonds issued under this part 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, trustee, or other fiduciary.