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2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 3-517 - Ownership of assets; records


MD Fin Inst Code § 3-517 (2013) What's This?

§3-517.

(a) The ownership of and title to the individual assets in a common trust fund are solely in the trust company, as trustee of the fund.

(b) A trust company shall show clearly on its records:

(1) The name of each fiduciary account on behalf of which the trust company holds a participation in a common trust fund; and

(2) The extent of the interest held for that fiduciary account.

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