{"data":{"id":"us-md/md.-code-corporations-and-associations-12-302","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 12–302","heading":"","body":"(a) Except as provided in the governing instrument of a statutory trust, the beneficial owners shall be entitled to the same limitation of personal liability extended to stockholders of a Maryland corporation formed under Title 2 of this article.\n(b) (1) Neither an obligation of a beneficial owner or trustee of a statutory trust to the statutory trust arising under the governing instrument or a separate agreement in writing, or a note, instrument, or other writing evidencing any such obligation of a beneficial owner or trustee, shall be subject to the defense of usury.\n(2) A beneficial owner or trustee may not interpose the defense of usury with respect to any obligation identified in paragraph (1) of this subsection in any action.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=12-302","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"47c8559994f98758ce570acb38d4cdfa84c7b5d2974b10350274c8b3c5396d66","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-12-301","next":"us-md/md.-code-corporations-and-associations-12-303"},"notice":"GroundRules: Original legal text. Not legal advice."}