Ch. 5

LAWS OF MARYLAND

provided in the Code of Public Local Laws of Baltimore City,
[1969] 1979 Edition, § 16-12.

DRAFTER'S NOTE:

Error: Obsolete cross-reference in Article 73B, §
52(a)(2).

Occurred: When the 1979 Edition of the Code of Public
Local Laws of Baltimore City was legalized by Ch. 39,
Acts of 1979.

72.

For the purposes of this subtitle:

(1) The term "employer" means the State of Maryland
and any municipal corporation as defined in [§ 21] § 163 of this
article.

DRAFTER'S NOTE:

Error: Obsolete cross-reference in Article 73B, §
72(1).

Occurred: As a result of Ch. 785, Acts of 1985, which
repealed Article 73B, § 21 and added § 163.

75.

(a) Except as otherwise provided in subsection (c) [and
subject to the provisions of § 46 of this article], in exercising
the standards set forth in § 74:

(1)  Each individual trustee of the plans, in his
fiduciary capacity, shall use reasonable care to prevent a
cotrustee from committing a breach.

(2)  Trustees shall jointly manage and control the
assets of a plan, except that nothing in this section shall
preclude any agreement allocating specific responsibilities,
obligations, or duties among trustees, in which event a trustee
to whom certain responsibilities, obligations, or duties have not
been allocated shall not be liable by reason of this subsection
either individually or as a trustee for any loss resulting to the
plan arising from the acts or omissions on the part of another
trustee to whom such responsibilities, obligations, or duties
have been allocated.

DRAFTER'S NOTE:

Error: Obsolete cross-reference in Article 73B, §
75(a).

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