§ 3-501
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/md/financial-institutions/3-501A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§3–501.
(a)In this subtitle the following words have the meanings indicated.
(b)“Common trust fund” means a fund that a trust company maintains under this subtitle solely for the collective investment of money held by the trust company as fiduciary.
(c)“Fund plan” means a written plan for the establishment and administration of a common trust fund.
(d)“Trust company” includes a national banking association that has powers similar to those given to a trust company under the laws of this State.
(e)“Valuation date” means a date as of which a trust company determines the value of the assets in a common trust fund that it administers.