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LAWS OF MARYLAND

Ch. 33

(B) COPYING.

ON A REASONABLE REQUEST, A COPY OF THE FUND PLAN SHALL
BE PROVIDED TO ANY COFIDUCIARY OR PERSON WHO HAS AN INTEREST
IN A PARTICIPATING ACCOUNT.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §
62(5)(g).

The word "banking" is added to the phrase
"principal office of the trust company" for
clarity.

3-509. AMENDMENT OF FUND PLAN.

A FUND PLAN MAY BE AMENDED ONLY:

(1)   PROSPECTIVELY; AND

(2)   BY WRITTEN AMENDMENTS THAT ARE APPROVED BY
RESOLUTION OF THE BOARD OF DIRECTORS OF THE TRUST COMPANY.

REVISOR'S NOTE: This section is new language derived
without substantive change from Art. 11, §
62(5)(f).

The word "only" is added after "amended" for
clarity.

3-510. INVESTMENT IN FUND.

A TRUST COMPANY, ACTING IN A FIDUCIARY CAPACITY, MAY
INVEST MONEY IN ONE OR MORE COMMON TRUST FUNDS IF:

(1)   THE TRUST COMPANY HOLDS THE MONEY FOR
INVESTMENT; AND

(2)   THE INSTRUMENT OR AUTHORIZATION THAT CREATED
THE FIDUCIARY RELATIONSHIP DOES NOT CONTAIN ANY TERMS
INCONSISTENT WITH THIS TYPE OF INVESTMENT.

REVISOR'S NOTE: This section is new language derived
without substantive change from the first
sentence of Art. 11, 5 62(4), except as that
sentence refers to cofiduciaries, and is revised
to reflect the interpretation that has been given
present Art. 11, § 62(4) in practice.

In the introductory clause of this section, the
present reference to fiduciary relationships that
arose "before or ... after June 1, 1945" is
deleted as unnecessary.

In item (1) of this section, the present phrase
"in interests or participations" is deleted as

unnecessary.