GroundRules
← Search the law
Maryland · Through 2026-01-01

Md. Code, Corporations and Associations § 12–403

Read at publisher ↗
Where this section sits in the code
  1. Article - Corporations and Associations

(a) Except as provided in its governing instrument, a statutory trust shall have the power to:

(1) Indemnify and hold harmless, and to obligate itself to indemnify and hold harmless, any trustee, officer, employee, or agent from and against any and all claims and demands whatsoever; and

(2) Pay or reimburse in advance of final disposition of a proceeding, as defined in § 2–418 of this article, reasonable expenses incurred in connection with the proceeding.

(b) Except as provided in the governing instrument of a statutory trust, a trustee shall be indemnified to the same extent as a director of a corporation under § 2–418 of this article.

Collected 2026-09-14T19:56:43Z. Source file · JSON

Browse this collection