Maryland § 10-318
Full text of Maryland Maryland Code § 10-318, with citation guidance and answers to common questions.
§ 10-318.
(a) (1) The State Treasurer shall invest surplus money of the Fund in any security in which a savings bank may invest under State law.
(2) If the State Treasurer invests in a certificate of deposit, it shall:
(i) be interest bearing;
(ii) be issued by:
1. a bank located and authorized to do business in the State;
2. a national banking association located in the State; or
3. a trust company located and authorized to do business in the State; and
(iii) be secured in full by a pledge of a direct obligation of the State or United States.
(b) If sale of a security in which money of the Fund is invested is in the best interest of the Fund, the State Treasurer may sell the security.
Frequently Asked Questions About Maryland § 10-318
What does Maryland Code § 10-318 cover?
Section 10-318 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 § 10-318?
A common citation format is "Maryland Code § 10-318" (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 § 10-318 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.