2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 3-514 - Evidence of participation in fund
§3-514.
(a) (1) A trust company that administers a common trust fund may issue a certificate of participation for each participating account.
(2) A certificate of participation is not assignable and may not be issued in any form that purports to be negotiable or assignable.
(b) In any report or accounting required from the trust company by law, a statement that is signed and verified by one of its officers as to the existence, extent, and value of a participation in a common trust fund that it administers may be accepted as evidence of those facts by any court, trust clerk, or supervisory authority.
Disclaimer: These codes may not be the most recent version. Maryland may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
