{"data":{"id":"us-md/md.-code-corporations-and-associations-12-304","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 12–304","heading":"","body":"(a) Except as provided in its governing instrument, a statutory trust shall have the power to:\n(1) Indemnify and hold harmless, and to obligate itself to indemnify and hold harmless, any beneficial owner from and against any and all claims and demands whatsoever; and\n(2) Pay or reimburse in advance of final disposition of a proceeding, as defined in § 2–418 of this article, any expenses incurred in connection with the proceeding.\n(b) The absence of a provision for indemnity in the governing instrument of a statutory trust may not be construed to deprive a beneficial owner of any right to indemnity that is otherwise available to the beneficial owner under the laws of the State.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=12-304","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"0ca8415496218c02fbf869ca493f578186ed6abfdb0d32b041cfc028e9a14919","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-12-303","next":"us-md/md.-code-corporations-and-associations-12-305"},"notice":"GroundRules: Original legal text. Not legal advice."}