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§ 12-405. Independent status of trustee of statutory trust

West's Annotated Code of MarylandCorporations and AssociationsEffective: June 1, 2010

West's Annotated Code of Maryland
Corporations and Associations
Title 12. Statutory Trusts (Refs & Annos)
Subtitle 4. Trustees; Powers; Liabilities
Effective: June 1, 2010
MD Code, Corporations and Associations, § 12-405
§ 12-405. Independent status of trustee of statutory trust
Currentness
Investment company
(a) This section applies to a statutory trust that is an investment company, as defined by the Investment Company Act of 1940.
Interested person
(b) A trustee of a statutory trust who with respect to the statutory trust is not an interested person, as defined by the Investment Company Act of 1940, shall be deemed to be independent and disinterested when making a determination or taking any action as a trustee.

Credits

Added by Acts 2010, c. 611, § 1, eff. June 1, 2010.
MD Code, Corporations and Associations, § 12-405, MD CORP & ASSNS § 12-405
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document