Ch. 418

1994 LAWS OF MARYLAND

(F)     a trustee, acting in a fiduciary capacity, has all the rights
and powers over trust property that an unmarried adult owner has
over individually owned property, but a trustee may exercise those
rights and powers in a fiduciary capacity only.

(G)    a claim based on a contract entered into by a trustee acting
in a. fiduciary capacity, an obligation arising from the trustee's
ownership or control of trust property, or a tort committed in the
course of administering the trust, may be asserted by a third person
against the trust property by proceeding against the trustee in a
fiduciary capacity, whether or not the trustee is personally liable.

(H) at any time, the transferor may require the trustee to
furnish bond.

(I) the trustee shall maintain complete records of all trust
property and all trust transactions.

(J) (1) the following persons in the order listed may request an
accounting of trust property and transactions:

(I) the transferor or the transferor's legal
representative;

(II) the beneficiary or the beneficiary's legal
representative;

(III) the guardian of the person of the beneficiary;

(IV) an adult member the beneficiary's family or that
family member's legal representative; or

(V) a person interested in the trust property or a person
interested in the welfare of the beneficiary, either of whom the court
determines to have a legitimate interest.

(2)     the Trustee shall provide a written accounting of all
trust property and trust transactions for the previous year, or for a
longer period if needed for tax purposes, upon request by and at
reasonable times to a person authorized in paragraph (1) of this
subsection.

(3)     the trustee shall give the transferor, successor trustee,
or court a complete accounting, including a written accounting of
all trust property, a description and records of all trust
transactions, and any other relevant documents and information
concerning the trust upon the resignation or removal of the trustee,
the termination of the trust, or the demand of the court.

(4) the trustee may petition the court for approval of final
accounts.

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