Maryland § 6-223
Full text of Maryland Maryland Code § 6-223, with citation guidance and answers to common questions.
§ 6-223.
(a) Except as otherwise prohibited by law, the Treasurer may invest or reinvest, in a deposit with a financial institution in the State, unexpended or surplus money over which the Treasurer has custody if:
(1) the deposit is interest bearing; and
(2) as provided for a depositary for State money:
(i) the financial institution provides collateral that has a market value that equals or exceeds the amount by which a deposit exceeds the deposit insurance; and
(ii) a custodian holds the collateral.
(b) The Treasurer may sell, redeem, or exchange an investment or reinvestment made under this section.
Frequently Asked Questions About Maryland § 6-223
What does Maryland Code § 6-223 cover?
Section 6-223 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 § 6-223?
A common citation format is "Maryland Code § 6-223" (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 § 6-223 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.