{"data":{"id":"us-md/md.-code-financial-institutions-3-520","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 3–520","heading":"","body":"(a) A transfer agent or a transferee of an asset held in the name of a trustee of a common trust fund may presume conclusively that the trustee has an absolute right to transfer or assign the asset.\n(b) (1) A transfer agent or a transferee of an asset held in the name of a trustee of a common trust fund is not chargeable with any duty in relation to the fund, a participating account, or any beneficiary of a participating account.\n(2) A transferee of an asset held in the name of a trustee of a common trust fund is not liable for the application of any purchase money paid to the trustee.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=3-520","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"ef945d3ad1f34e8712991f4d8b67ceffe58e8d702c775ce0fdb25270ee171525","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-3-519","next":"us-md/md.-code-financial-institutions-3-601"},"notice":"GroundRules: Original legal text. Not legal advice."}