<?xml version='1.0' encoding='utf-8'?>
<section article="gsp" article_name="State Personnel and Pensions" number="21-206" title_number="21" title_name="State Retirement and Pension System" subtitle_number="2" subtitle_name="Fiduciary Responsibilities">
  <level label="a">
    <text>Subject to § 21-207 of this subtitle, a fiduciary who breaches any of the responsibilities, obligations, or duties imposed on a fiduciary by this subtitle:</text>
    <level label="1">
      <text>is personally liable to the several systems for any losses to the several systems resulting from a breach;</text>
    </level>
    <level label="2">
      <text>shall restore to the several systems any profits of the fiduciary made through use of assets of the several systems by the fiduciary; and</text>
    </level>
    <level label="3">
      <text>is subject to any equitable or remedial relief, including removal of the fiduciary, that a court considers appropriate.</text>
    </level>
  </level>
  <level label="b">
    <text>A fiduciary is not liable with respect to a breach of fiduciary duty under this subtitle if the breach was committed:</text>
    <level label="1">
      <text>before the fiduciary became a fiduciary; or</text>
    </level>
    <level label="2">
      <text>after the fiduciary ceased to be a fiduciary.</text>
    </level>
  </level>
</section>
