Maryland § 8-406
Full text of Maryland Maryland Code § 8-406, with citation guidance and answers to common questions.
§ 8-406.
(a) (1) The State Treasurer may deposit the proceeds of a capital lease authorized under this subtitle in an escrow account or similar arrangement.
(2) The proceeds may be withdrawn for the purpose of making payment due under the terms of the capital lease.
(3) A withdrawal made under the provisions of this section shall be made in accordance with the terms of the individual contract.
(b) The State Treasurer may invest any unexpended proceeds held in escrow and the investment income on the proceeds in obligations authorized for the investment of State funds under § 6-222 of this article.
Frequently Asked Questions About Maryland § 8-406
What does Maryland Code § 8-406 cover?
Section 8-406 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 § 8-406?
A common citation format is "Maryland Code § 8-406" (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 § 8-406 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.