118                                               LAWS OF MARYLAND                              [Ch. 11

OF THE ESTATE MAINTAINED BY THE REGISTER.

REVISOR'S NOTE: This section presently appears as
Art. 93, §7—307. The only changes are in
style and language.

SUBTITLE 4. POWERS OF PERSONAL REPRESENTATIVE.
7-401. GENERAL POWERS.

(A) EXERCISE OF POWERS.

IN THE PERFORMANCE OF HIS DUTIES PURSUANT TO §7-101,
A PERSONAL REPRESENTATIVE MAY EXERCISE ALL OF THE POWER
OR AUTHORITY CONFERRED UPON HIM BY STATUTE OR IN THE
WILL, WITHOUT APPLICATION TO, THE APPROVAL OF, OR
RATIFICATION BY THE COURT. EXCEPT AS VALIDLY LIMITED BY
THE WILL OR BY AN ORDER OF COURT, A PERSONAL
REPRESENTATIVE MAY, IN ADDITION TO THE POWER OR AUTHORITY
CONTAINED IN THE WILL AND TO OTHER COMMON LAW OR
STATUTORY POWERS, EXERCISE THE POWERS ENUMERATED IN THIS
SECTION.

(E) HOLD ASSETS.

HE MAY RETAIN ASSETS OWNED BY THE DECEDENT PENDING
DISTRIBUTION OR LIQUIDATION, INCLUDING THOSE IN WHICH THE
REPRESENTATIVE IS PERSONALLY INTERESTED OR WHICH ARE
OTHERWISE IMPROPER FOR TRUST INVESTMENT.

(C)   HOLD SECURITIES IN NAME OF NOMINEE.

HE MAY HOLD A SECURITY IN THE NAME OF A NOMINEE OR
IN OTHER FORM WITHOUT DISCLOSURE OF THE INTEREST OF THE
ESTATE. IN THIS CASE, THE PERSONAL REPRESENTATIVE IS
LIABLE FOR A WRONGFUL ACT OF THE NOMINEE IN CONNECTION
WITH THE SECURITY HELD.

(D)   RECEIVE ASSETS.

HE MAY RECEIVE ASSETS FROM FIDUCIARIES OR OTHER
SOURCES.

(E)   DEPOSIT FUNDS.

HE MAY DEPOSIT FUNDS FOR THE ACCOUNT OF THE ESTATE,
INCLUDING MONEY RECEIVED FROM THE SALE OF ASSETS, IN
CHECKING ACCOUNTS, IN INSURED INTEREST-BEARING ACCOUNTS,
OR IN SHORT-TERM LOAN ARRANGEMENTS WHICH MAY BE
REASONABLE FOR USE BY A TRUSTEE.

(F)   DEPOSIT ASSETS IN RESTRICTED ACCOUNTS.

HE MAY AGREE TO DEPOSIT ASSETS OF THE ESTATE WITH A