§ 3-515. Management and control of fund
West's Annotated Code of MarylandFinancial Institutions
MD Code, Financial Institutions, § 3-515
§ 3-515. Management and control of fund
(a) The trust company that establishes a common trust fund has exclusive management and control of the fund, including the sole right to transfer, change, or dispose of the assets in the fund.
(b)(1) Except as otherwise provided in paragraph (2) of this subsection, a trust company may not:
Credits
Added by Acts 1980, c. 33, § 2, eff. July 1, 1980. Amended by Acts 1989, c. 236, § 2.
Formerly Art. 11, § 62.
MD Code, Financial Institutions, § 3-515, MD FIN INST § 3-515
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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