§ 12-201. Lawful business
West's Annotated Code of MarylandCorporations and AssociationsEffective: June 1, 2010
Effective: June 1, 2010
MD Code, Corporations and Associations, § 12-201
§ 12-201. Lawful business
(a) Except as provided in subsection (b) of this section, a statutory trust may carry on any lawful business for any purposes.
(b) A statutory trust may not carry on the business of:
(c) Except as provided in its certificate of trust or governing instrument, a statutory trust has the general powers, whether or not the general powers are set forth in its certificate of trust or governing instrument, to:
(8) Purchase, take, receive, subscribe for, or otherwise acquire, own, hold, vote, use, employ, sell, mortgage, loan, pledge, or otherwise dispose of and otherwise use and deal in and with stock and other interests in and obligations of other business entities, other statutory trusts, and individuals;
(10) Invest its surplus funds, lend money from time to time in any manner that may be appropriate to enable the statutory trust to carry on its operations or fulfill the purposes specified in its governing instrument, and take and hold real and personal property as security for the payment of funds so invested or loaned;
Credits
Added by Acts 1999, c. 452, § 1, eff. Jan. 1, 2000. Amended by Acts 2010, c. 611, § 1, eff. June 1, 2010.
MD Code, Corporations and Associations, § 12-201, MD CORP & ASSNS § 12-201
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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