Maryland § 22-209
Full text of Maryland Maryland Code § 22-209, with citation guidance and answers to common questions.
§ 22-209.
(a) The Commission may enter into a trust agreement to secure bonds issued under this subtitle.
(b) The trustee under the trust agreement may be a bank or trust company that has the powers of a trust company in or outside the State.
(c) The trust agreement may pledge or assign all revenues from one or more projects as specified by the Commission.
(d) The trust agreement may provide for the protection and enforcement of the rights and remedies of the bondholders, including:
(1) covenants setting forth the duties of the Commission regarding:
(i) construction, acquisition, improvement, installation, maintenance, operation, repair, and insurance of a project; and
(ii) custody, safeguarding, and application of all money;
(2) the establishment and funding of reserve funds;
(3) requirements that a project be constructed and paid for under the supervision and approval of consulting engineers employed or designated by the Commission; and
(4) statements of the rights and remedies of the bondholders and of the trustee, which may restrict the individual right of action of bondholders.
Frequently Asked Questions About Maryland § 22-209
What does Maryland Code § 22-209 cover?
Section 22-209 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 § 22-209?
A common citation format is "Maryland Code § 22-209" (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 § 22-209 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.