WILLIAM DONALD SCHAEFER, Governor Ch. 674

FOR the purpose of setting forth, without amendment, the definitions of "interested
person" and "legatee" in the Estates and Trusts Article; confirming that certain
definitions include certain persons, but not others, notwithstanding a certain case
holding; confirming that certain definitions include certain persons, but not
others; and generally relating to estates and trusts.

BY repealing and reenacting, without amendments,
Article - Estates and Trusts
Section l-101(g)(3) and (k)
Annotated Code of Maryland
(1974 Volume and 1989 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Estates and Trusts

1-101.

(g) "Interested person" is:

(3) A legatee in being, not fully paid, whether his interest is vested or
contingent;

(k) "Legatee" means a person who under the terms of a will would receive a
legacy. It includes a trustee but not a beneficiary of an interest under the trust.

SECTION 2. AND BE IT FURTHER ENACTED, That the definition of
legatee and, therefore, of an interested person includes a trustee, but not a beneficiary,
of an interest under the trust notwithstanding any holding or dictum to the contrary in
Carrier v. Crestar Bank, N.A., 316 Md. 700 (1989).

SECTION 3. AND BE IT FURTHER ENACTED, That a legatee and,
therefore, an interested person, includes a remainderman who has a legal future
interest following a legal life estate or term of years.

SECTION 4. AND BE IT FURTHER ENACTED, That a legatee and,
therefore, an interested person includes the holder of any intervening interest not held
in trust.

SECTION 5. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1990.

Approved May 29, 1990.

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