{"data":{"id":"us-md/md.-code-corporations-and-associations-12-403","jurisdiction":"us-md","citation":"Md. Code, Corporations and Associations § 12–403","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 trustee, officer, employee, or agent 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, reasonable expenses incurred in connection with the proceeding.\n(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.","path":["Article - Corporations and Associations"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gca\u0026section=12-403","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:43Z","sha256":"145e2260717d7e7c39ad1b8c4e9c5f70880a040b2a41e646a2d4e193cbfdcfad","source_id":"us-md","stale":false,"prev":"us-md/md.-code-corporations-and-associations-12-402","next":"us-md/md.-code-corporations-and-associations-12-404"},"notice":"GroundRules: Original legal text. Not legal advice."}