Maryland Financial Institutions Section 3-506

Article - Financial Institutions

§ 3-506.

      (a)      A fund plan may provide for:

            (1)      The amortization of premiums on bonds or other obligations;

            (2)      The disposition of discounts, profits, stock rights, stock dividends, and extraordinary dividends;

            (3)      The allocation or apportionment between principal or income of the items specified in item (2) of this subsection; and

            (4)      Any other similar matters.

      (b)      To the extent that a fund plan does not provide otherwise as to the determination, allocation, and apportionment of principal and income, the principles of Title 14 of the Estates and Trusts Article apply.



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