Maryland § 3-926
Full text of Maryland Maryland Code § 3-926, with citation guidance and answers to common questions.
§ 3-926.
When the principal of and interest on bonds of the Authority issued to finance the cost of a particular project or projects for a subdivision or person, (including any refunding bonds issued to refund and refinance such bonds), have been fully paid and retired, or when adequate provision has been made to fully pay and retire the same, and all other conditions of the resolution or trust agreement authorizing and securing the same have been satisfied and the lien of such resolution or trust agreement has been released in accordance with the provisions thereof, the Authority, to the extent required by applicable agreements with any person or subdivision shall promptly do such things and execute such deeds, releases, and documents as are necessary and required:
(1) To convey title to such project or projects to such person or subdivision, free and clear of all liens and encumbrances, all to the extent that title to such project or projects shall not, at the time, then be vested in such person or subdivision; and
(2) To release securities held as collateral by a trustee or trustees pursuant to the trust agreement to such person or subdivision, which had, pursuant to the trust agreement, deposited and turned over such securities to a trustee or trustees in order to assure the full payment and retirement of said bonds, free and clear of all liens and encumbrances, all to the extent that title to such securities shall not, at the time, then be vested in such person or subdivision.
Frequently Asked Questions About Maryland § 3-926
What does Maryland Code § 3-926 cover?
Section 3-926 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 § 3-926?
A common citation format is "Maryland Code § 3-926" (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 § 3-926 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.