2013 Maryland Code
FINANCIAL INSTITUTIONS
§ 3-518 - Registration of assets in name of nominee
§3-518.
(a) A trust company may register in the name of a nominee any assets of a common trust fund that it administers.
(b) The nominee may be either an individual or a partnership.
(c) A trust company that registers assets in the name of a nominee shall:
(1) Show the assets and the name of the nominee on its records; and
(2) If the nominee is operated or controlled by the trust company, supervise any possession or control of the assets by the nominee.
(d) A transfer agent or registrar of a corporation whose stocks, bonds, securities, or other obligations are registered in the name of a nominee under this section is not required to investigate and may not be held liable for treating the nominee as the owner of the assets.
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