Maryland Corporations and Associations Section 12-204

Article - Corporations and Associations

§ 12-204.

      (a)      (1)      A certificate of trust filed by a business trust with the Department shall set forth:

                  (i)      The name of the business trust;

                  (ii)      The name and the business address of the resident agent;

                  (iii)      The address of the principal office of the business trust in the State; and

                  (iv)      Any other matters the trustees determine to include in the certificate.

            (2)      A business trust is formed at the time of the filing of the initial certificate of trust with the Department or at any later date or time specified in the certificate of trust if, in either case, there has been substantial compliance with the requirements of this section.

            (3)      A certificate of trust shall be signed by all of the trustees.

      (b)      (1)      A certificate of trust may be amended by filing a certificate of amendment to the certificate of trust with the Department. The certificate of amendment shall set forth:

                  (i)      The name of the business trust; and

                  (ii)      The amendment to the certificate of trust.

            (2)      A certificate of trust may be amended at any time for any purpose as the trustees may determine. A trustee who becomes aware that any statement in a certificate of trust was false when made or that any matter described has changed making the certificate of trust false in any material respect shall promptly file a certificate of amendment.

            (3)      A certificate of amendment shall be signed by one or more of the trustees or by an officer of the trust duly authorized by a majority of the trustees.

      (c)      (1)      A certificate of trust shall be canceled on the completion of winding up of the business trust and its termination. A certificate of cancellation shall be filed with the Department and set forth:

                  (i)      The name of the business trust;

                  (ii)      The date of filing of its certificate of trust; and

                  (iii)      Any other information the trustees determine to include in the certificate of cancellation.

            (2)      A certificate of cancellation shall be signed by a majority of the trustees or by an officer of the trust duly authorized by a majority of the trustees, or if there is no trustee, as provided in the governing instrument of the business trust.

      (d)      (1)      A certificate of trust, certificate of amendment, or certificate of cancellation shall be effective when accepted for record by the Department or at any later time specified in the certificate.

            (2)      If any certificate filed in accordance with this section provides for a future effective date or time and if the transaction is terminated or amended to change the future effective date or time prior to the future effective date or time, the certificate shall be terminated or amended by the filing, prior to the future effective date or time set forth in such original certificate, of a certificate of termination or amendment of the original certificate, executed and filed in accordance with this title, which shall identify the original certificate which has been terminated or amended and shall state that the original certificate has been terminated or amended.

      (e)      The execution of a certificate by a trustee or duly authorized officer constitutes an affirmation under the penalties of perjury that, to the best of the trustee's or officer's knowledge and belief, the facts stated in the certificate are true.



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