§ 18-1908
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/md/education/18-1908A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§18–1908.
(a)Each fiduciary shall be covered by a surety bond or an insurance policy of the type and in the amount of coverage determined by the State Treasurer under § 5–108 of the State Government Article, as a fiduciary of the Trust.
(b)Unless a fiduciary is bonded, the fiduciary may not exercise custody or control of any assets of the Trust.
(c)A fiduciary may not allow another fiduciary to act in violation of this section.