Code of Maryland Regulations
Title 25 - OFFICE OF THE STATE TREASURER
Subtitle 03 - TREASURY MANAGEMENT
Chapter 25.03.04 - Policy Regarding the Investment of Public Money
Section 25.03.04.03 - Requirements for Financial Officers
Current through Register Vol. 51, No. 19, September 20, 2024
A financial officer shall make investments:
A. With the care, skill, prudence, and diligence under the circumstances then prevailing that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims;
B. In a manner designed to reasonably match anticipated cash flow needs so that sufficient funds are available to pay obligations upon proper presentation for payment;
C. So that a reasonable amount of cash or cash equivalents is available for unanticipated cash needs;
D. With due regard for minimizing risk while maximizing return;
E. Using competitive purchasing practices except when impractical;
F. In accordance with a written investment policy;
G. So that the securities and collateral may continue to be priced on a marked-to-market basis; and
H. To avoid the enhancement of the personal financial position of the financial officer or any employee of the State Treasurer or local government unit who has responsibilities for such investments.
