Ch. 385

LAWS OF MARYLAND

CHAPTER 385

(House Bill 149)

AN ACT concerning

Estates and Trusts - Consolidation or Division of Trusts

FOR the purpose of authorizing a court to consolidate or divide
trusts under certain circumstances; requiring certain
procedures in proceedings to consolidate or divide trusts
under certain circumstances; defining a certain term;
providing for the construction and application of this Act;
and generally relating to authorizing consolidation or
division of trusts under certain circumstances.

BY adding to

Article - Estates and Trusts

Section 14-106

Annotated Code of Maryland

(1974 Volume and 1988 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Estates and Trusts

14-106.

(A)   IN THIS SECTION, "BENEFICIARY" MEANS A PERSON IN BEING
WHO HAS A VESTED INTEREST, WHETHER:

(1)  POSSESSORY OR NOT; AND

(2)  SUBJECT TO DIVESTMENT OR NOT.

(B)  (1) SUBJECT TO THE PROVISIONS OF PARAGRAPH (2) OF THIS
SUBSECTION, ON PETITION BY A TRUSTEE, PERSONAL REPRESENTATIVE,
BENEFICIARY, OR A PARTY IN INTEREST, AFTER NOTICE AS THE COURT
MAY DIRECT TO THE TRUSTEES, PERSONAL REPRESENTATIVES,
BENEFICIARIES, AND PARTIES IN INTEREST, AND FOR GOOD CAUSE SHOWN,
A COURT MAY:

(I)  DIVIDE A TRUST INTO 2 OR MORE SEPARATE
TRUSTS; OR

(II)  CONSOLIDATE 2 OR MORE TRUSTS INTO A SINGLE
TRUST.

(2) A COURT MAY DIVIDE A TRUST OR CONSOLIDATE TRUSTS:
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