Maryland State Personnel and Pensions Section 21-203

      A fiduciary shall discharge the fiduciary's duties with respect to the several systems solely in the interest of the participants and as follows:

            (1)      for the exclusive purposes of providing benefits to the participants and for reasonable expenses of administering the several systems;

            (2)      with the care, skill, prudence, and diligence under the circumstances then prevailing, that a prudent person acting in a like capacity and familiar with such matters would use in the conduct of an enterprise of a like character and with like aims;

            (3)      by diversifying the investments of the several systems so as to minimize the risk of large losses, unless under the circumstances it is clearly prudent not to do so;

            (4)      in accordance with the laws governing the several systems; and

            (5)      in accordance with the documents and instruments governing the several systems to the extent that the documents and instruments are consistent with this subtitle.