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<section article="gfi" article_name="Financial Institutions" number="3-505" title_number="3" title_name="Banking Institutions -- Commercial Banks" subtitle_number="5" subtitle_name="Common Trust Funds">
  <text>Except as provided in § 3-507 of this subtitle, a fund plan shall state the name of the fund and include detailed provisions, not inconsistent with this subtitle, as to:</text>
  <level label="1">
    <text>The intervals at which the trust company will determine the value of the assets in the fund;</text>
  </level>
  <level label="2">
    <text>The intervals at which the trust company will have an audit made of the fund;</text>
  </level>
  <level label="3">
    <text>The manner in which the fund is to be operated;</text>
  </level>
  <level label="4">
    <text>The investment powers of the trust company with respect to the fund;</text>
  </level>
  <level label="5">
    <text>The terms and conditions that govern entry in and withdrawal from the fund;</text>
  </level>
  <level label="6">
    <text>The auditing and settling of accounts of the trust company with respect to the fund;</text>
  </level>
  <level label="7">
    <text>The basis and method to be used for valuing fund assets;</text>
  </level>
  <level label="8">
    <text>The circumstances and manner in which the fund may be terminated; and</text>
  </level>
  <level label="9">
    <text>Any other matters that are necessary to define clearly the rights and duties of the trust company and fund participants.</text>
  </level>
</section>
