920                                             LAWS OF MARYLAND                                     Ch. 11

As to the duty of a State's Attorney to help the
Comptroller adjust certain accounts, see Art. 10, § 38
of the Code.

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

6-220. RESERVED.

6-221. RESERVED.

PART IV. INVESTMENTS.

6-222. FEDERAL OBLIGATIONS.

(A)  INVESTMENT AND REINVESTMENT.

THE TREASURER MAY INVEST OR REINVEST UNEXPENDED OR SURPLUS
MONEY OVER WHICH THE TREASURER HAS CUSTODY:

(1)  IN ANY OBLIGATION FOR WHICH THE UNITED STATES HAS
PLEDGED ITS FAITH AND CREDIT FOR THE PAYMENT OF THE PRINCIPAL AND
INTEREST;

(2)  IN ANY OBLIGATION THAT A FEDERAL AGENCY ISSUES IN
ACCORDANCE WITH AN ACT OF CONGRESS; OR

(3)  IN A REPURCHASE AGREEMENT THAT ANY OF THESE
OBLIGATIONS SECURES.

(B)  SALE, REDEMPTION, AND EXCHANGE.

THE TREASURER MAY SELL, REDEEM, OR EXCHANGE AN INVESTMENT OR
REINVESTMENT MADE UNDER THIS SECTION.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 95, §
22F(a)(l) and (2).

In the introductory language of subsection (a) of this
section, the phrase "of any fund or account", which
formerly modified the word "money", is deleted as
surplusage.

In subsection (a)(1) and (3) of this section, the
former word "bond" is deleted as unnecessary in light
of the broad word "obligation[s]".

6-223. DEPOSITS.

(A) INVESTMENT AND REINVESTMENT.

EXCEPT AS OTHERWISE PROHIBITED BY LAW, THE TREASURER MAY
INVEST OR REINVEST, IN A DEPOSIT WITH A FINANCIAL INSTITUTION IN