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<section article="gca" article_name="Corporations and Associations" number="12-203" title_number="12" title_name="Statutory Trusts" subtitle_number="2" subtitle_name="Formation and Powers">
  <level label="a">
    <text>A Maryland statutory trust shall have:</text>
    <level label="1">
      <text>A principal office in this State; and</text>
    </level>
    <level label="2">
      <text>A resident agent.</text>
    </level>
  </level>
  <level label="b">
    <level label="1">
      <text>A statutory trust may designate or change its resident agent or principal office by filing for record with the Department a certified copy of a resolution of its trustees that authorizes the designation or change.</text>
    </level>
    <level label="2">
      <text>A statutory trust may change the address of its resident agent by filing for record with the Department a statement of the change signed by one of its trustees or by an officer of the statutory trust.</text>
    </level>
    <level label="3">
      <text>A designation or change of a statutory trust’s principal office or its resident agent or its resident agent’s address under this subsection is effective when the Department accepts the resolution or statement for record.</text>
    </level>
  </level>
  <level label="c">
    <level label="1">
      <text>A resident agent who changes the resident agent’s name or address in the State shall notify the Department of the change by filing for record with the Department a statement of the change signed by the resident agent or on behalf of the resident agent.</text>
    </level>
    <level label="2">
      <text>The statement shall include:</text>
      <level label="i">
        <text>The names of the statutory trusts for which the change is effective;</text>
      </level>
      <level label="ii">
        <text>The resident agent’s old and new addresses or the resident agent’s old and new names; and</text>
      </level>
      <level label="iii">
        <text>The date on which the change is effective.</text>
      </level>
    </level>
    <level label="3">
      <text>If the old and new addresses of the resident agent are the same as the old and new addresses of the principal office of the statutory trust, the statement may include a change of address for the principal office if:</text>
      <level label="i">
        <text>The resident agent notifies the statutory trust in writing that the statement will be filed; and</text>
      </level>
      <level label="ii">
        <text>The statement recites that the resident agent has done so.</text>
      </level>
    </level>
    <level label="4">
      <text>The statement of the change of name or address of the resident agent or principal office of a statutory trust is effective when the Department accepts the statement for record.</text>
    </level>
  </level>
  <level label="d">
    <level label="1">
      <text>A resident agent may resign by filing with the Department a counterpart or photocopy of the resident agent’s signed resignation.</text>
    </level>
    <level label="2">
      <text>Unless a later time is specified in the resignation, the resignation is effective:</text>
      <level label="i">
        <text>At the time it is filed with the Department, if the statutory trust has appointed a successor resident agent; or</text>
      </level>
      <level label="ii">
        <text>10 days after it is filed with the Department, if the statutory trust has not appointed a successor resident agent.</text>
      </level>
    </level>
  </level>
  <level label="e">
    <text>Service of process on a registered agent designated by a statutory trust under subsection (b) of this section shall be as effective as if served on one of the trustees of the statutory trust.</text>
  </level>
</section>
