902 LAWS OF MARYLAND Ch. 435
CHAPTER 435
(Senate Bill 792)
AN ACT to add new subsection (b) to Section 5-116 of Article 21 "Real
Property," of the Annotated Code of Maryland (1972 Interim Supplement), title
"Rules of Construction," and to redesignate present subsections (b) and (c) of
Section 5-116 as subsections (c) and (d) respectively to provide for vesting of
legal estate in the corpus of a trust when the trust terminates or when the
trustee has only nominal duties to perform.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new subsection (b) be and it is hereby added to Section 5-116
of Article 21 "Real Property," of the Annotated Code of Maryland (1972 Interim
Supplement), title "Rules of Construction," to follow immediately after subsection
(a) thereof, to read as follows:
5-116.
(B) WHERE A TRUST HAS BEEN CREATED BY CONVEYANCE,
DEED, COVENANT, DEVISE OR BEQUEST OF ANY PROPERTY REAL
OR PERSONAL IN WHICH THE TRUSTEE HAS DUTIES OTHER THAN
NOMINAL TO PERFORM AT THE INCEPTION OF OR DURING THE
TERM OF THE TRUST, BUT LATER BECAUSE OF THE DEATH OF A
LIFE TENANT OR OTHER OCCURRENCE THE TRUST HAS
TERMINATED OR THERE REMAINS ONLY NOMINAL DUTIES TO
PERFORM, THE LEGAL ESTATE IN THE CORPUS OF THE TRUST
SHALL THEN VEST IN THE BENEFICIARIES OF SUCH TRUST, EVEN
THOUGH THE INSTRUMENT CREATING THE SAME SHALL
SPECIFICALLY REQUIRE A CONVEYANCE OR ASSIGNMENT OF THE
SAME, UNLESS THE TRUSTEE SHALL BE REQUIRED TO MAKE
PARTITION OR DIVISION BY THE TERMS OF THE CREATING
INSTRUMENT.
SECTION 2. AND BE IT FURTHER ENACTED, That subsections (b) and
(c) of Section 5-116 of said Article 21 of the Code, title and subtitle be and they
are hereby redesignated as subsections (c) and (d), respectively.
SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take
effect July 1, 1973.
Approved May 21, 1973.
CHAPTER 436
(Senate Bill 803)
AN ACT to repeal and re-enact, with amendments, Sections 8(c)(2), 20(g)(7)(ii)
and 20(g)(7)(iv) of Article 95A of the Annotated Code of Maryland (1969
Replacement Volume and 1972 Supplement), title "Unemployment Insurance
Law," subtitles, respectively, "Contributions" and "Definitions," correcting
errors in the laws relating generally to unemployment insurance.
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That Sections 8(c)(2), 20(g)(7)(ii) and 20(g)(7)(iv) of Article 95A of
the Annotated Code of Maryland (1969 Replacement Volume and 1972
|