Maryland Financial Institutions Section 3-505

      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:

            (1)      The intervals at which the trust company will determine the value of the assets in the fund;

            (2)      The intervals at which the trust company will have an audit made of the fund;

            (3)      The manner in which the fund is to be operated;

            (4)      The investment powers of the trust company with respect to the fund;

            (5)      The terms and conditions that govern entry in and withdrawal from the fund;

            (6)      The auditing and settling of accounts of the trust company with respect to the fund;

            (7)      The basis and method to be used for valuing fund assets;

            (8)      The circumstances and manner in which the fund may be terminated; and

            (9)      Any other matters that are necessary to define clearly the rights and duties of the trust company and fund participants.