Code of Maryland Regulations
Title 25 - OFFICE OF THE STATE TREASURER
Subtitle 03 - TREASURY MANAGEMENT
Chapter 25.03.03 - Local Government Investment Guidelines and Reporting Requirements
Section 25.03.03.03 - General Requirements for Adoption of Local Government Investment Policy
Universal Citation: MD Code Reg 25.03.03.03
Current through Register Vol. 51, No. 19, September 20, 2024
A. The governing body of each local government unit shall adopt by resolution a written investment policy that:
(1) Complies with
State and local law, including:
(a) State
Finance and Procurement Article, §
6-222,
Annotated Code of Maryland, and
(b)
Article 95, § 22F, Annotated Code of Maryland; and
(2) Meets or exceeds standards published by
nationally recognized financial management organizations recognized by the
State Treasurer.
B. The State Treasurer recognizes the standards published by the following nationally recognized financial management organizations:
(1) GFOA; and
(2) Municipal Treasurer's
Association.
C. The board of education and the board of library trustees of a county need not adopt a written investment policy but shall invest in compliance with the accepted policy of the county.
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