Maryland § 10-118
Full text of Maryland Maryland Code § 10-118, with citation guidance and answers to common questions.
§ 10-118.
(a) The Corporation may authorize the issuance of revenue bonds by resolution.
(b) The Corporation may issue the bonds at one time or in one or more series from time to time.
(c) The Corporation shall determine:
(1) the date of the bonds;
(2) the maturity dates of the bonds, which may not exceed 40 years from the date of issue;
(3) the interest rates on the bonds;
(4) the medium of payment of the principal of and interest on the bonds;
(5) the form of the bonds;
(6) the manner of executing the bonds;
(7) the denominations of the bonds; and
(8) the place at which the principal of and interest on the bonds will be payable, including at a bank or trust company in or outside the State.
(d) An officer’s signature or facsimile signature on a bond remains valid even if the officer leaves office before the bond is delivered.
(e) (1) Between successive holders, bonds are negotiable instruments under Title 3 of the Maryland Uniform Commercial Code.
(2) Bonds may be registrable.
(f) (1) The Corporation shall sell the bonds by competitive or negotiated sale in a manner and for a price the Corporation determines to be in its best interests.
(2) Bonds are exempt from §§ 8-206 and 8-208 of the State Finance and Procurement Article.
(g) Bond proceeds may be placed in escrow pending application of the proceeds to the purposes for which the bonds are issued.
Frequently Asked Questions About Maryland § 10-118
What does Maryland Code § 10-118 cover?
Section 10-118 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 10-118?
A common citation format is "Maryland Code § 10-118" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 10-118 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.