210 LAWS OF MARYLAND. [CH. 252

vestment. A cofiduciary, who in good faith gives consent to
such participation; shall not thereby be rendered liable to the
beneficiaries or cestuis que trustent of the fiduciary account.
Upon the written request of any such cofiduciary lodged with
the trust company operating the fund, the participation of the
particular fiduciary account shall be withdrawn at the earliest
date permitted by the plan under which the fund is ad-
ministered.

(5) Each common trust fund shall be established and main-
tained in accordance with a written plan (referred to herein
as the Plan) approved by resolution of the board of directors
of the trust company, and by competent legal. counsel.

(a) The plan shall specify the title by which the fund is to
be designated and known.

(b) The Plan shall provide:

1. That at regular stated intervals therein specified (but
not less frequent than once during each period of three months)
the trust company administering the common trust fund shall
determine the value of the assets in the common trust fund,
and that no participation shall be admitted to or withdrawn
from the fund except on the basis of such valuation and on the
date of the determination of such valuation or (if permitted by
the Plan) within two business days subsequent to the date of
such determination.

2. That when participations are withdrawn from the com-
mon trust fund, distributions may, in the discretion of the
trust company administering the fund, be in cash or ratably in
kind, or partly in cash and partly ratably in kind, provided
that all such distributions as of any one valuation date shall
be made on the same basis.

3. That the trust company administering the common trust
fund shall at stated periods therein specified (but not less fre-
quent than once during each period of twelve months) cause an
audit to be made of the fund by independent public accountants
responsible only to the Board of Directors of the trust com-
pany.

(c) The Plan may or may not provide for the amortization
of premiums upon bonds or other obligations, the disposition
of discounts and profits, stock rights, stock dividends and
extraordinary dividends and the allocation of the same to prin-
cipal or income accounts or the apportionment of the same be-
tween principal and income accounts, and other like matters;
but to the extent that any plan be silent as to the determina-
tion, allocation and apportionment of principal and income,
the principles of Article 75B of the Annotated Code (1939)
of Public General Laws of Maryland (entitled "Principal and
Income") and any amendments thereto, so far as applicable,
shall be applied.