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LAWS OF MARYLAND

Ch. 33

(B)       COMMON TRUST FUND.

"COMMON TRUST FUND" MEANS A FUND THAT A TRUST COMPANY
MAINTAINS UNDER THIS SUBTITLE SOLELY FOR THE COLLECTIVE
INVESTMENT OF MONEY HELD BY THE TRUST COMPANY AS FIDUCIARY.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from Art. 11, § 62(2).

(C)       FUND PLAN.

"FUND PLAN" MEANS A WRITTEN PLAN FOR THE ESTABLISHMENT
AND ADMINISTRATION OF A COMMON TRUST FUND.

REVISOR'S NOTE: This subsection is new language added
for clarity and brevity.

(D)       TRUST COMPANY.

"TRUST COMPANY" INCLUDES A NATIONAL BANKING ASSOCIATION
THAT HAS POWERS SIMILAR TO THOSE GIVEN TO A TRUST COMPANY
UNDER THE LAWS OF THIS STATE.

REVISOR'S NOTE: This subsection is new language derived
without substantive change from the second
sentence of Art. 11, § 62(1).

It supplements, for purposes of this subtitle,
the general definition of "trust company" in §
3-101 of this title.

As to the federal law that relates to the
exercise of trust powers by a national banking
association, see 12 U.S.C. § 92a.

The term "national banking association" is
defined in § 1-101 of this article.

(E) VALUATION DATE.

"VALUATION DATE" MEANS A DATE AS OF WHICH A TRUST
COMPANY DETERMINES THE VALUE OF THE ASSETS IN A COMMON TRUST
FUND THAT IT ADMINISTERS.

REVISOR'S NOTE: This subsection is new language added
for clarity.

3-502. ESTABLISHMENT OF FUND.

A TRUST COMPANY MAY ESTABLISH AND ADMINISTER ONE OR
MORE COMMON TRUST FUNDS IN ACCORDANCE WITH THE REQUIREMENTS
OF THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
sentence of Art. 11, § 62(1) and from Art. 11, §
62(2), as that subsection refers to the operation