(a) If any officer whose signature or a facsimile of whose signature appears on any bonds shall cease to be such officer before the delivery of the bonds, such signature or such facsimile shall nevertheless be valid and sufficient for all purposes the same as if he or she had remained in office until such delivery. (b) Notwithstanding any other provisions of this subtitle or any recitals in any bonds issued hereunder, all such bonds shall be deemed to be negotiable instruments under the laws of this State. (c) The bonds shall be exempt from the provisions of §§ 19–205 and 19–206 of the Local Government Article and §§ 8–206 and 8–208 of the State Finance and Procurement Article, and the Administration may sell such bonds in such manner, either at public or at private sale, and for such price as it may determine.
Maryland Legal Code