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Ch. 567 2006 LAWS OF MARYLAND
CHAPTER 567
(House Bill 294)
AN ACT concerning
Bonds - Small Denominations
FOR the purpose of altering the maximum denomination that qualifies for a small
denomination bond; and generally relating to small denomination bonds.
BY repealing and reenacting, with amendments,
Article - State Finance and Procurement
Section 8-123.2
Annotated Code of Maryland
(2001 Replacement Volume and 2005 Supplement)
SECTION 1. BE IT ENACTED BY THE . GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - State Finance and Procurement
8-123.2.
(a) In this section, "small denomination bonds" means bonds in denominations
of [$1,000] $5,000 or less.
(b) In accordance with § 8-121 of this subtitle, the Board, in a resolution
setting forth the terms and conditions of any State bond issue, may designate that all
or a portion of the State bonds be issued as small denomination bonds.
(c) Small denomination bonds may be issued in any form permitted under §
8-121 of this subtitle.
(d) The Board may sell small denomination bonds at a negotiated sale if the
Board determines that a negotiated sale will:
(1) result in either a more efficient or economical sale of the bonds; or
(2) provide greater access to investors who are residents of the State of
Maryland.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 2006.
Enacted May 26, 2006.
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