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§ 3-501. Definitions

West's Annotated Code of MarylandFinancial Institutions

West's Annotated Code of Maryland
Financial Institutions
Title 3. Banking Institutions--Commercial Banks
Subtitle 5. Common Trust Funds (Refs & Annos)
MD Code, Financial Institutions, § 3-501
§ 3-501. Definitions
Currentness
In general
(a) In this subtitle the following words have the meanings indicated.
Common trust fund
(b) “Common trust fund” means a fund that a trust company maintains under this subtitle solely for the collective investment of money held by the trust company as fiduciary.
Fund plan
(c) “Fund plan” means a written plan for the establishment and administration of a common trust fund.
Trust company
(d) “Trust company” includes a national banking association that has powers similar to those given to a trust company under the laws of this State.
Valuation date
(e) “Valuation date” means a date as of which a trust company determines the value of the assets in a common trust fund that it administers.

Credits

Added by Acts 1980, c. 33, § 2, eff. July 1, 1980.
Formerly Art. 11, § 62.
MD Code, Financial Institutions, § 3-501, MD FIN INST § 3-501
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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