Maryland § 17-308
Full text of Maryland Maryland Code § 17-308, with citation guidance and answers to common questions.
§ 17-308.
(a) The governing authority of an authorized participant may direct its financial officer to remit to the State Treasurer for investment in the Pool money that:
(1) is available for investment; and
(2) is not required, by law or a covenant or agreement with bondholders or others, to be segregated and invested in a different manner.
(b) The governing authority of an authorized participant having money intended for other postemployment benefits that are available for investment, as authorized under § 17–102 of this title, may direct its financial officer to remit that money to the State Treasurer for investment in the Pool.
(c) (1) If the governing authority of an authorized participant determines that it is in the best interest of the authorized participant to deposit money in the Pool, the governing authority shall:
(i) adopt a resolution or ordinance authorizing the deposit; and
(ii) file a certified copy of the resolution or ordinance with the State Treasurer accompanied by a statement of the approximate cash flow requirements of the authorized participant for the invested money.
(2) The resolution or ordinance shall indicate the official of the authorized participant who is responsible for depositing money in and withdrawing money from the Pool.
(d) Each subsequent deposit of money into the Pool shall be accompanied by a statement of:
(1) the intended duration of the investment; or
(2) the anticipated date of withdrawal of the money from the Pool.
Frequently Asked Questions About Maryland § 17-308
What does Maryland Code § 17-308 cover?
Section 17-308 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 § 17-308?
A common citation format is "Maryland Code § 17-308" (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 § 17-308 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.