# Corporations and Associations (GCA)

## Title 12. Statutory Trusts

### Subtitle 3. Beneficial Owners

#### Section 12-307

(a) Notwithstanding Sec. 3-709 of this article, the provisions of Title 3, Subtitle 7 of this article apply to a statutory trust formed on or after October 1, 2023, that is a closed-end investment company as defined in the Investment Company Act of 1940.

(b) Notwithstanding Sec. 3-709 of this article, the governing instrument of a statutory trust formed before October 1, 2023, that is a closed-end investment company as defined in the Investment Company Act of 1940 may provide that Title 3, Subtitle 7 of this article applies to the statutory trust.

---

Md. Code Ann., Corps. & Ass'ns (as displayed at mgaleg.maryland.gov, October 16, 2026)