|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ch. 13
|
|
|
|
|
120
|
|
|
|
|
|
LAWS OF MARYLAND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4-304. BONDS AND OTHER EVIDENCES OF OBLIGATION ARE
INVESTMENT SECURITIES.
NOTWITHSTANDING ANY OTHER PROVISION OF LAW OR ANY
RECITALS IN THE INSTRUMENTS, THE REVENUE BONDS, NOTES,
AND OTHER EVIDENCES OF OBLIGATION ISSUED UNDER THIS
SUBTITLE ARE INVESTMENT SECURITIES UNDER THE LAWS OF THIS
STATE.
REVISOR'S NOTE: This section presently appears as
Art. 94A, §13(b).
The present statutory statement that the bonds
are "negotiable instruments" has been changed
to provide that they are "investment
securities"; in this regard, see revisor's
note to §3—205 of this article.
Reference to "notes, and other evidences of
obligation" is inserted to conform to the
language of §4-301 of this subtitle; in this
regard, see revisor's notes to §§ 4—301 and
3—201 of this article.
The only other changes are in style.
4-305. EXEMPTION FROM ARTICLE 31.
THE REVENUE BONDS, NOTES, AND OTHER EVIDENCES OF
OBLIGATION ISSUED UNDER THIS SUBTITLE AND THEIR ISSUANCE
AND SALE ARE EXEMPT FROM THE PROVISIONS OF ARTICLE 31,
§§9, 10, AND 11 OF THE CODE, AND THE AUTHORITY MAY SELL
THEM AT EITHER PUBLIC OR PRIVATE SALE IN THE BANNER AND
FOR THE PRICE THAT IT DETERMINES.
REVISOR'S NOTE: This section presently appears as
Art. 94A, §13(d).
Reference to "notes, and other evidences of
obligation" is inserted to conform to the
language of §4—301 of this subtitle; in this
regard, see revisor's notes to §§ 4—301 and
3—201 of this article.
The phrase "and their issuance and sale",
which is derived from the similar provisions
of §3-206 of this article as to Consolidated
Transportation Bonds, is added for clarity.
The only other changes are in style.
4-306. OTHER APPROVAL NOT REQUIRED.
REVENUE BONDS MAY BE ISSUED BY THE AUTHORITY:
(1) WITHOUT OBTAINING THE CONSENT OF ANY
INSTRUMENTALITY, AGENCY, OR UNIT OF THIS STATE; AND
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
