Maryland Estates and Trusts Section 13-306

      (a)      Subject to subsection (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to § 13-309 of this subtitle, in the absence of a will or under a will or trust that does not contain an authorization to do so.

      (b)      Subject to subsection (c) of this section, a conservator may make an irrevocable transfer to another adult or trust company as custodian for the benefit of the minor pursuant to § 13-309 of this subtitle.

      (c)      A transfer under subsection (a) or (b) of this section may be made only if:

            (1)      The personal representative, trustee, or conservator considers the transfer to be in the best interest of the minor;

            (2)      The transfer is not prohibited by or inconsistent with provisions of the applicable will, trust agreement, or other governing instrument; and

            (3)      The transfer is authorized by the court if it exceeds $10,000 in value.