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§ 14.5-404. Trusts created for lawful purposes and to benefit beneficiaries

West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015

West's Annotated Code of Maryland
Estates and Trusts (Refs & Annos)
Title 14.5. Maryland Trust Act (Refs & Annos)
Subtitle 4. Creation, Validity, Modification, and Termination of Trust (Refs & Annos)
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-404
§ 14.5-404. Trusts created for lawful purposes and to benefit beneficiaries
Lawful purposes of trust
(a) A trust may be created only to the extent that the purposes of the trust are lawful, not contrary to public policy, and possible to achieve.
Benefit to beneficiaries of trust
(b) A trust and the terms of the trust shall be for the benefit of the beneficiaries of the trust.

Credits

Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-404, MD EST & TRST § 14.5-404
Current through legislation effective July 1, 2020, from the 2020 Regular Session of the General Assembly.
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