§ 3–518
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-518 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 5. Common Trust Funds
§ 3–518LinkCopy Citation
(a)
A trust company may register in the name of a nominee any assets of a common trust fund that it administers.
(b)
The nominee may be either an individual or a partnership.
(c)
A trust company that registers assets in the name of a nominee shall:
(1)
Show the assets and the name of the nominee on its records; and
(2)
If the nominee is operated or controlled by the trust company, supervise any possession or control of the assets by the nominee.
(d)
A transfer agent or registrar of a corporation whose stocks, bonds, securities, or other obligations are registered in the name of a nominee under this section is not required to investigate and may not be held liable for treating the nominee as the owner of the assets.