Md. Code, Estates and Trusts § 15–407

(a) Except as provided in subsection (b) of this section, this subtitle applies to institutional funds existing on or established after the effective date of Chapter 134 of the Acts of the General Assembly of 2009.

(b) As applied to institutional funds existing on the effective date of Chapter 134 of the Acts of the General Assembly of 2009, this subtitle governs only decisions made or actions taken on or after that date.