220                                               LAWS OF MARYLAND                                       Ch. 33

(1)       THE NAME OF EACH FIDUCIARY ACCOUNT ON BEHALF
OF WHICH THE TRUST COMPANY HOLDS A PARTICIPATION IN A COMMON
TRUST FUND; AND

(2)       THE EXTENT OF THE INTEREST HELD FOR THAT
FIDUCIARY ACCOUNT.

REVISOR'S NOTE: This section presently appears as Art.
11, § 62(7) and the first clause of (9).

The only changes are in style.

The balance of present Art. 11, § 62(9) now
appears in § 3-520 of this subtitle.

3-518. REGISTRATION OF ASSETS IN NAME OF NOMINEE.

(A)   REGISTRATION.

A TRUST COMPANY MAY REGISTER IN THE NAME OF A NOMINEE
ANY ASSETS OF A COMMON TRUST FUND THAT IT ADMINISTERS.

(B)   NOMINEE.

THE NOMINEE MAY BE EITHER AN INDIVIDUAL OR A
PARTNERSHIP.

(C)   RECORDS AND SUPERVISION.

A TRUST COMPANY THAT REGISTERS ASSETS IN THE NAME OF A
NOMINEE SHALL:

(1)   SHOW THE ASSETS AND THE NAME OF THE NOMINEE
ON ITS RECORDS; AND

(2)   IF THE NOMINEE IS OPERATED OR CONTROLLED BY
THE TRUST COMPANY, SUPERVISE ANY POSSESSION OR CONTROL OF
THE ASSETS BY THE NOMINEE.

(D)   LIABILITY.

A TRANSFER AGENT OR REGISTRAR OF A CORPORATION WHOSE
STOCKS, BONDS, SECURITIES, OR OTHER OBLIGATIONS ARE
REGISTERED IN THE NAME OF A NOMINEE UNDER THIS SECTION IS
NOT REQUIRED TO INVESTIGATE AND MAY NOT BE HELD LIABLE FOR
TREATING THE NOMINEE AS THE OWNER OF THE ASSETS.

REVISOR'S NOTE: This section is new language derived
without substantive change from the last clause
of the first sentence and the entire last
sentence of Art. 11, § 62(10).

In subsection (c)(2) of this section, the
introductory clause " {i}f the nominee is operated
or controlled by the trust company" is new
language added to clarify when a trust company
must supervise a nominee and, thus, permit a