1036

LAWS OF MARYLAND

Ch. 11

Defined terms: "Includes";"including" § 1-101

REVISOR'S NOTE TO  SECTION: Art. 31, § 9 formerly defined

the terms     "public body" and "bonds" for purposes of

Art. 31, §§   9 through 12A, while Art. 31, §§ 29(a)

and 30(a)     defined "public body" and "bond[s]" for

purposes of  those respective sections.

In light of the repetitiveness of these definitions,
in subsections (b) and (e) of this section, the
similar provisions of those definitions and of Art.
31, § 24(a) are combined for purposes of this
subtitle. The differences -- particularly the
exclusions in Art. 31, § 9(b) -- are restated, in this
revision, as substantive limitations.

8-202. SCOPE OF SUBTITLE.

THIS SUBTITLE DOES NOT APPLY TO AN ENTITY THAT IS GOVERNED
BY ARTICLE 31 OF THE CODE.

REVISOR'S NOTE: This section is new language added to
ensure that either this subtitle or Article 31 of the
Code, but not both, encompasses an entity such as a
public corporation.

8-203. RESERVED.

8-204. RESERVED.

PART II. GENERAL PROVISIONS.

8-205. FORM OF BONDS.

(A)  GENERAL AUTHORITY.

A STATE UNIT AUTHORIZED TO ISSUE BONDS MAY ISSUE BONDS:

(1)  IN COUPON FORM; OR

(2)  NOTWITHSTANDING ANY OTHER PROVISION OF LAW, IN A
FORM THAT QUALIFIES AS A REGISTERED FORM UNDER § 103 OF THE
INTERNAL REVENUE CODE OF 1954 OR A REGULATION ADOPTED UNDER THAT
SECTION.

(B)  ANCILLARY POWERS.

WHENEVER A STATE UNIT PROVIDES FOR THE SALE OF BONDS IN
REGISTERED FORM, THE STATE UNIT MAY:

(1) ESTABLISH PROCEDURES FOR THE REGISTRATION AND
TRANSFER OF THE BONDS;