{"data":{"id":"us-md/md.-code-financial-institutions-3-511","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 3–511","heading":"","body":"(a) A trust company may invest in a common trust fund money from an account that it administers as a cofiduciary if the trust company:\n(1) Otherwise may do so under § 3-510 of this subtitle; and\n(2) First obtains the written consent of all other cofiduciaries of that account.\n(b) A trust company that administers a common trust fund, in which an account held by the trust company as cofiduciary participates, is solely responsible for management and control of the fund.\n(c) A cofiduciary, other than the trust company, who consents in good faith to the participation of an account in a common trust fund is not liable to the beneficiaries for the management of the fund.\n(d) On receipt of the written request of a cofiduciary to do so, the trust company shall withdraw the participation of a fiduciary account in a common trust fund at the earliest date that the fund plan permits.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=3-511","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"14274a2c7e8bbe811a6f4befc0beec6b94ab32d56d7e4b4118531f194c62a277","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-3-510","next":"us-md/md.-code-financial-institutions-3-512"},"notice":"GroundRules: Original legal text. Not legal advice."}