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§ 3-506. Other provisions of fund plan

West's Annotated Code of MarylandFinancial InstitutionsEffective: January 1, 2015

West's Annotated Code of Maryland
Financial Institutions
Title 3. Banking Institutions--Commercial Banks
Subtitle 5. Common Trust Funds (Refs & Annos)
Effective: January 1, 2015
MD Code, Financial Institutions, § 3-506
§ 3-506. Other provisions of fund plan
Currentness
In general
(a) A fund plan may provide for:
(1) The amortization of premiums on bonds or other obligations;
(2) The disposition of discounts, profits, stock rights, stock dividends, and extraordinary dividends;
(3) The allocation or apportionment between principal or income of the items specified in item (2) of this subsection; and
(4) Any other similar matters.
Construction with Estates and Trusts Article
(b) To the extent that a fund plan does not provide otherwise as to the determination, allocation, and apportionment of principal and income, the principles of Titles 14 and 14.5 of the Estates and Trusts Article apply.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 2014, c. 585, § 1, eff. Jan. 1, 2015.
Formerly Art. 11, § 62.
MD Code, Financial Institutions, § 3-506, MD FIN INST § 3-506
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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