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Code · Maryland · Financial Institutions

§ 3-517

71 words·~1 min read·/md/financial-institutions/3-517

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§3–517.
(a)The ownership of and title to the individual assets in a common trust fund are solely in the trust company, as trustee of the fund.
(b)A trust company shall show clearly on its records:
(1)The name of each fiduciary account on behalf of which the trust company holds a participation in a common trust fund; and
(2)The extent of the interest held for that fiduciary account.
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