Maryland § 17-103
Full text of Maryland Maryland Code § 17-103, with citation guidance and answers to common questions.
§ 17-103.
(a) This section applies to bond sale proceeds and other money that are:
(1) subject to arbitrage, rebate, or similar limitations under federal tax law; and
(2) in the custody or control of the controller, director of finance, or similar official of a charter county or Baltimore City.
(b) Notwithstanding any other law, the controller, director of finance, or similar official of a charter county or Baltimore City may:
(1) invest and reinvest bond proceeds and other money to which this section applies:
(i) in bonds, notes, or other obligations that are:
1. of investment grade quality as established by a nationally recognized rating agency; and
2. issued by or on behalf of a state or a unit, political subdivision, public corporation, special district, or authority of a state; and
(ii) directly or through a trust or fund that restricts investments to obligations of investment grade quality; and
(2) sell, redeem, or exchange an investment or reinvestment made under item (1) of this subsection.
Frequently Asked Questions About Maryland § 17-103
What does Maryland Code § 17-103 cover?
Section 17-103 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 § 17-103?
A common citation format is "Maryland Code § 17-103" (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 § 17-103 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.