2019 Maryland Code
Financial Institutions
Title 3 - Banking Institutions -- Commercial Banks
Subtitle 5 - Common Trust Funds
§ 3-505. Required provisions for fund plans

    Except as provided in § 3-507 of this subtitle, a fund plan shall state the name of the fund and include detailed provisions, not inconsistent with this subtitle, as to:

        (1)    The intervals at which the trust company will determine the value of the assets in the fund;

        (2)    The intervals at which the trust company will have an audit made of the fund;

        (3)    The manner in which the fund is to be operated;

        (4)    The investment powers of the trust company with respect to the fund;

        (5)    The terms and conditions that govern entry in and withdrawal from the fund;

        (6)    The auditing and settling of accounts of the trust company with respect to the fund;

        (7)    The basis and method to be used for valuing fund assets;

        (8)    The circumstances and manner in which the fund may be terminated; and

        (9)    Any other matters that are necessary to define clearly the rights and duties of the trust company and fund participants.