# Financial Institutions (GFI)

## Title 3. Banking Institutions -- Commercial Banks

### Subtitle 5. Common Trust Funds

#### Section 3-504

(a) A trust company shall establish and maintain a common trust fund only in accordance with a fund plan that is approved:

  (1) By resolution of the board of directors of the trust company; and

  (2) By legal counsel.

(b) Notwithstanding any provision of law that applies to a participating fiduciary account, a fund plan controls:

  (1) Participations in the fund; and

  (2) The rights and benefits in participating accounts of all persons who have interests in the fund.

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Md. Code Ann., Fin. Inst. (as displayed at mgaleg.maryland.gov, October 16, 2026)