Md. Code, Est. & Trusts § 15-113

Current with changes from the 2024 Legislative Session

Section 15-113 - Joint and several liability of trust company affiliates

An entity that controls, is controlled by, or is under common control with a trust company shall be jointly and severally liable for claims against the trust company when the trust company is acting as a trustee of bond indentures or similar debt issuances, if the trust company:

(1) May exercise trust or fiduciary powers in the State; and

(2) Meets the qualifications under 12 U.S.C. § 1841(c)(2)(D).

Md. Code, ET § 15-113