Maryland § 12-205
Full text of Maryland Maryland Code § 12-205, with citation guidance and answers to common questions.
§ 12-205.
(a) A bond:
(1) may be in bearer form;
(2) may be registrable as to principal alone or as to both principal and interest; and
(3) is a “security” under § 8-102 of the Commercial Law Article, whether or not the bond is one of a class or series or is divisible into a class or series of instruments.
(b) (1) A bond shall be signed manually or in facsimile by the chief executive of the issuer.
(2) An officer’s signature or facsimile signature on a bond remains valid even if the officer leaves office before the bond is delivered.
(3) The clerk or other similar administrative officer of the issuer shall attest to and affix to each bond the seal of the issuer.
(c) A bond shall mature not later than 40 years after the date of issue.
(d) (1) The issuer may sell bonds at competitive or negotiated sale in any manner and on any terms that it considers best.
(2) A contract to acquire property may provide that payment shall be made in bonds.
(3) Bonds are exempt from §§ 19–205 and 19–206 of the Local Government Article.
Frequently Asked Questions About Maryland § 12-205
What does Maryland Code § 12-205 cover?
Section 12-205 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 § 12-205?
A common citation format is "Maryland Code § 12-205" (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 § 12-205 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.