Maryland Financial Institutions Section 3-504

      (a)      A trust company shall establish and maintain a common trust fund only in accordance with a fund plan that is approved:

            (1)      By resolution of the board of directors of the trust company; and

            (2)      By legal counsel.

      (b)      Notwithstanding any provision of law that applies to a participating fiduciary account, a fund plan controls:

            (1)      Participations in the fund; and

            (2)      The rights and benefits in participating accounts of all persons who have interests in the fund.