# Financial Institutions (GFI)

## Title 3. Banking Institutions -- Commercial Banks

### Subtitle 5. Common Trust Funds

#### Section 3-518

(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.

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