§ 12–405
Statutes in effect as of October 1, 2026.
Md. Code Ann., Corps. & Ass'ns § 12-405 (2026)
Title 12. Statutory Trusts
Subtitle 4. Trustees; Powers; Liabilities
§ 12–405LinkCopy Citation
(a)
This section applies to a statutory trust that is an investment company, as defined by the Investment Company Act of 1940.
(b)
A trustee of a statutory trust who with respect to the statutory trust is not an interested person, as defined by the Investment Company Act of 1940, shall be deemed to be independent and disinterested when making a determination or taking any action as a trustee.