(a)      There is a Montgomery County Investment Pool that consists of money of Montgomery County, other local governments, and public and nonprofit entities that have placed money in the Pool for investment purposes.

      (b)      The Montgomery County Investment Pool:

            (1)      Shall be administered by the Montgomery County Director of Finance; and

            (2)      Shall be managed in accordance with the investment policy adopted by Montgomery County under § 22F of this article.

      (c)      The Montgomery County Investment Pool may not accept funds from any entity that is not participating in the Pool on July 1, 1996.