Maryland · Maryland Code — Transportation Article
Md. Code, Transp. § 7-308: (a) The Department may execute any agreement, lease, or equipment trust certificate for the purchase or rental of transit facilities or equipment such as rolling stock, substantially in the form customarily used in these cases and appropriate to effect the purchase or rental
What this law says, in plain English
This statute authorizes a Department to enter into agreements, leases, and equipment trust certificates to purchase or rent transit equipment. Vehicles must be marked with owner/lessor names, payments come from specified revenues, and title transfers only after certificates are paid.
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