Ch. 644                                       LAWS OF MARYLAND

(C)   "BANK HOLDING COMPANY" HAS THE MEANING STATED IN 12
U.S.C. § 1841(A).

(D)  (1) "BENEFICIARY" MEANS A PERSON WHO RECEIVES OR IS
ENTITLED AS A MATTER OF RIGHT TO RECEIVE A CURRENT DISTRIBUTION
OF PRINCIPAL OR INCOME FROM A TRUST, ESTATE, OR FUND WITH RESPECT
TO WHICH A SUBSTITUTION OF A CORPORATE FIDUCIARY IS MADE UNDER
THIS SUBTITLE.

(2) "BENEFICIARY" INCLUDES:

(I)  IF THE BENEFICIARY IS A MINOR, THE
BENEFICIARY'S NATURAL OR LEGAL GUARDIAN; OR

(II)  IF THE BENEFICIARY IS A DISABLED PERSON,
AS DEFINED IN § 13-101 OF THIS ARTICLE, ANY PERSON ACTING ON
BEHALF OF THE BENEFICIARY UNDER A GUARDIANSHIP, CONSERVATORSHIP,
OR COMMITTEE.

(E)   "CORPORATE FIDUCIARY" MEANS:

(1)  A BANK;

(2)  A TRUST COMPANY; OR

(3)  ANY OTHER CORPORATE ENTITY THAT IS AUTHORIZED TO
ACT AS A FIDUCIARY UNDER THE LAWS OF THIS STATE.

(F)   "FIDUCIARY" INCLUDES:

(1)  A TRUSTEE;

(2)  AN EXECUTOR OR EXECUTRIX;

(3)  A PERSONAL REPRESENTATIVE;

(4)  A RECEIVER;

(5)  A SPECIAL ADMINISTRATOR;

(6)  A GUARDIAN;

(7)  A CONSERVATOR;

(8)  A COMMITTEE;

(9)  A CUSTODIAN UNDER THE MARYLAND UNIFORM GIFTS TO
MINORS ACT; AND

(10)  ANY OTHER PERSON WHO HAS A FIDUCIARY
RELATIONSHIP THE RESPONSIBILITIES OF WHICH ARE CUSTOMARILY
PERFORMED BY A CORPORATE FIDUCIARY.

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