§ 3–804
Statutes in effect as of October 1, 2026.
Md. Code Ann., Fin. Inst. § 3-804 (2026)
Title 3. Banking Institutions -- Commercial Banks
Subtitle 8. Conversions and Voluntary Dissolutions
§ 3–804LinkCopy Citation
In the distribution of the general assets of a trust company that dissolves voluntarily, the person who succeeds the trust company as a personal representative, guardian, trustee, receiver, or other fiduciary has a preference for all debts and accounts that are due to or held by it as fiduciary over all other debts and liabilities, including salaries and wages of employees.