§ 3–513
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-513 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 5. Common Trust Funds
§ 3–513LinkCopy Citation
(a)
Entry into and withdrawal from participation in a common trust fund may occur only on a valuation date, or, if provided by the plan, within 2 business days after a valuation date.
(b)
Participation shall be based on the valuation as of the valuation date associated with the entry or withdrawal.
(c)
When participation is withdrawn from a common trust fund, the trust company may make distribution in cash, ratably in kind, or both, but all distributions associated with a valuation date shall be made in the same way.