Section 17-304 – Administration
(a) The State Treasurer shall administer the Pool on behalf of: (1) authorized participants; and (2) to the extent that State money is included in the Pool, the State. (b) The State Treasurer shall develop procedures necessary to administer the Pool efficiently, including: (1) specification of the minimum and maximum amounts that may be deposited by any authorized participant in […]
Section 17-305 – Investments
(a) The State Treasurer shall establish investment policies for the Pool. (b) Subject to the objectives and requirements of this part, the State Treasurer shall establish procedures for: (1) the investment and reinvestment of money in the Pool; and (2) the acquisition, retention, management, and disposition of investments of the Pool. (c) (1) The State Treasurer shall invest money in the […]
Section 17-306 – Employment of Fiscal Agent
(a) The State Treasurer may: (1) contract with a qualified Maryland fiscal agent; and (2) compensate the fiscal agent for services rendered. (b) The fiscal agent may perform administrative and investment services that the State Treasurer performs under this part.
Section 17-307 – Status of Money in Pool
Except for State money, money deposited in the Pool is not money of the State.
Section 17-308 – Procedures for Participation
(a) The governing authority of an authorized participant may direct its financial officer to remit to the State Treasurer for investment in the Pool money that: (1) is available for investment; and (2) is not required, by law or a covenant or agreement with bondholders or others, to be segregated and invested in a different manner. (b) The governing […]
Section 17-309 – Participant Accounts
(a) The State Treasurer shall maintain a separate account designated by name or number for each authorized participant in the Pool, including the State, to record the individual transactions and totals of all investments of each authorized participant. (b) At least monthly, the State Treasurer shall credit accumulated income to each authorized participant’s account. (c) (1) The State Treasurer […]
Section 17-312 – Established
There is a Montgomery County Investment Pool.
Section 17-313 – Composition
(a) The Montgomery County Investment Pool consists of money deposited in the Pool for investment purposes by: (1) Montgomery County; (2) other local governments; and (3) public and nonprofit entities. (b) The Montgomery County Investment Pool may not accept money from an entity that was not a participant in the Pool on July 1, 1996.
Section 17-314 – Administration and Management
The Montgomery County Investment Pool shall be: (1) administered by the Montgomery County Director of Finance; and (2) managed in accordance with the local investment policy adopted by Montgomery County under § 17–205 of this title.
Section 17-303 – Composition
The Pool consists of: (1) money of authorized participants that is deposited in the Pool; and (2) money of the State that is deposited in the Pool by the State Treasurer.