{"data":{"id":"us-md/md.-code-financial-institutions-3-505","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 3–505","heading":"","body":"Except as provided in § 3-507 of this subtitle, a fund plan shall state the name of the fund and include detailed provisions, not inconsistent with this subtitle, as to:\n(1) The intervals at which the trust company will determine the value of the assets in the fund;\n(2) The intervals at which the trust company will have an audit made of the fund;\n(3) The manner in which the fund is to be operated;\n(4) The investment powers of the trust company with respect to the fund;\n(5) The terms and conditions that govern entry in and withdrawal from the fund;\n(6) The auditing and settling of accounts of the trust company with respect to the fund;\n(7) The basis and method to be used for valuing fund assets;\n(8) The circumstances and manner in which the fund may be terminated; and\n(9) Any other matters that are necessary to define clearly the rights and duties of the trust company and fund participants.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=3-505","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"68cf7641c53e0362ad450df9fa8d6568d4482575a8bf7ac59140938bd3941a89","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-3-504","next":"us-md/md.-code-financial-institutions-3-506"},"notice":"GroundRules: Original legal text. Not legal advice."}