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2013 Maryland Code
ESTATES AND TRUSTS
§ 15-113 - Joint and several liability of trust company affiliates


MD Est & Trusts Code § 15-113 (2013) What's This?

§15-113.

An entity that controls, is controlled by, or is under common control with a trust company shall be jointly and severally liable for claims against the trust company when the trust company is acting as a trustee of bond indentures or similar debt issuances, if the trust company:

(1) May exercise trust or fiduciary powers in the State; and

(2) Meets the qualifications under 12 U.S.C. § 1841(c)(2)(d).

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