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Maryland · Through 2026-01-01

Md. Code, Financial Institutions § 3–512

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  1. Article - Financial Institutions

(a) Except as otherwise provided in this section, a trust company may not:

(1) Invest its own funds in a common trust fund that it administers; or

(2) Have any interest, other than its fiduciary interest, in the assets in a common trust fund that it administers.

(b) If, because of a creditor relationship or otherwise, a trust company acquires an interest in a participation in a common trust fund that it administers, the participation shall be withdrawn on the next valuation date allowed by the fund plan.

(c) A trust company does not have a prohibited interest in the assets of a common trust fund that it administers merely because the trust company owns in its own right any stocks, bonds, or other obligations issued by a person from whom the fund also holds stocks, bonds, or other obligations.

Collected 2026-09-14T19:58:27Z. Source file · JSON

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