{"data":{"id":"us-md/md.-code-state-personnel-and-pensions-21-203","jurisdiction":"us-md","citation":"Md. Code, State Personnel and Pensions § 21–203","heading":"","body":"A fiduciary shall discharge the fiduciary's duties with respect to the several systems solely in the interest of the participants and as follows:\n(1) for the exclusive purposes of providing benefits to the participants and for reasonable expenses of administering the several systems;\n(2) with the care, skill, prudence, and diligence under the circumstances then prevailing, that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims;\n(3) by diversifying the investments of the several systems so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so;\n(4) in accordance with the laws governing the several systems; and\n(5) in accordance with the documents and instruments governing the several systems to the extent that the documents and instruments are consistent with this subtitle.","path":["Article - State Personnel and Pensions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gsp\u0026section=21-203","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T20:01:07Z","sha256":"a625b451ece4e2cb6032fea22a53bd90691978e39d40629d6472917e6dee1e26","source_id":"us-md","stale":false,"prev":"us-md/md.-code-state-personnel-and-pensions-21-202","next":"us-md/md.-code-state-personnel-and-pensions-21-204"},"notice":"GroundRules: Original legal text. Not legal advice."}