§ 3–501
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-501 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 5. Common Trust Funds
§ 3–501LinkCopy Citation
(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.