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§ 18-1908. Bond requirements for fiduciaries

West's Annotated Code of MarylandEducationEffective: June 1, 2023

West's Annotated Code of Maryland
Education (Refs & Annos)
Division III. Higher Education [Titles 10-20] (Refs & Annos)
Title 18. Student Financial Assistance (Refs & Annos)
Subtitle 19. Maryland 529 Program (Refs & Annos)
Effective: June 1, 2023
MD Code, Education, § 18-1908
§ 18-1908. Bond requirements for fiduciaries
Currentness
Bond purchased for each fiduciary
(a) The State Treasurer shall purchase a bond for each fiduciary in accordance with Title 9, Subtitle 17 of the State Government Article.
Bond required for fiduciary to exercise custody or control of assets
(b) Unless a fiduciary is bonded, the fiduciary may not exercise custody or control of any assets of the Trust.
Fiduciary prohibited from allowing another to violate section
(c) A fiduciary may not allow another fiduciary to act in violation of this section.

Credits

Added by Acts 1997, c. 110, § 1, eff. July 1, 1997; Acts 1997, c. 111, § 1, eff. July 1, 1997. Amended by Acts 1997, c. 31, § 10, eff. Oct. 1, 1997; Acts 2003, c. 381, § 1, eff. July 1, 2003; Acts 2003, c. 382, § 1, eff. July 1, 2003; Acts 2023, c. 113, § 1, eff. June 1, 2023.
MD Code, Education, § 18-1908, MD EDUC § 18-1908
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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