{"data":{"id":"us-md/md.-code-financial-institutions-3-504","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 3–504","heading":"","body":"(a) A trust company shall establish and maintain a common trust fund only in accordance with a fund plan that is approved:\n(1) By resolution of the board of directors of the trust company; and\n(2) By legal counsel.\n(b) Notwithstanding any provision of law that applies to a participating fiduciary account, a fund plan controls:\n(1) Participations in the fund; and\n(2) The rights and benefits in participating accounts of all persons who have interests in the fund.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=3-504","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"c4dd2a6eb83a4b9ed318e60e415af0cad6fca2f506b4d5b19efda19e90df9439","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-3-503","next":"us-md/md.-code-financial-institutions-3-505"},"notice":"GroundRules: Original legal text. Not legal advice."}