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2445
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MARVIN MANDEL,
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Governor
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(3) IN THIS SUBSECTION "ADJACENT TO A
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ROADWAY" MEANS WITHIN THE HIGHWAY RIGHT OF WAY..
(4)(3) THE ADMINISTRATION DEPARTMENT
SHALL PROMULGATE RULES AND REGULATIONS PERTAINING TO THIS
SUBSECTION WHICH WILL INCLUDE, BUT NOT BE LIMITED TO,
DEFINITIONS A DEFINITION OF THE TERMS "BIKEWAY", "SMOOTH
CONSISTENCY", AND "SHOULDER" "SMOOTH SURFACE"..
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SECTION 2 3. AND BE IT FURTHER ENACTED, That this
Act shall take effect July 1, 1977.
Approved May 17, 1977.
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CHAPTER 544
(House Bill 1325)
AN ACT concerning
Estates and Trusts —
Powers of a Fiduciary
FOR the purpose of granting fiduciary statutory authority
to hold securities in the name of a nominee.
BY adding to
Article - Estates and Trusts
Section 15-102(x)
Annotated Code of Maryland
(1974 Volume and 1976 Supplement)
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SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That new Section 15-102(x) be and it is hereby
added to Article — Estates and Trusts, of the Annotated
Code of Maryland (1974 Volume and 1976 Supplement) to
read as follows:
Article - Estates and Trusts
15-102.
(X) 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 FIDUCIARY
ESTATE, BUT THE FIDUCIARY SHALL BE LIABLE FOR A WRONGFUL
ACT OF THE NOMINEE IN CONNECTION" WITH THE SECURITY SO
HELD.
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SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1977.
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