§ 14.5-701. Acceptance of trusteeship
West's Annotated Code of MarylandEstates and TrustsEffective: January 1, 2015
Effective: January 1, 2015
MD Code, Estates and Trusts, § 14.5-701
§ 14.5-701. Acceptance of trusteeship
(a) Except as otherwise provided in subsection (c) of this section, a person designated as trustee accepts the trusteeship:
(2) If the terms of the trust do not provide a method of acceptance of the trusteeship or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.
(b)(1) A person designated as trustee that has not yet accepted the trusteeship may reject the trusteeship.
(c) A person designated as trustee, without accepting the trusteeship, may:
Credits
Added by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
MD Code, Estates and Trusts, § 14.5-701, MD EST & TRST § 14.5-701
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.
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