Volume 773, Page 387 View pdf image |
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WILLIAM DONALD SCHAEFER, Governor Ch. 6 21-202. PURPOSES OF ASSETS OF SYSTEM. THE BOARD OF TRUSTEES SHALL HOLD THE ASSETS OF EACH OF THE SEVERAL (1) BENEFITS TO PARTICIPANTS; AND (2) FOR REASONABLE EXPENSES OF ADMINISTRATION. REVISOR'S NOTE: This section is new language derived without substantive The reference to the "Board of Trustees" is added for clarity. Defined terms: "Board of Trustees" § 20-101 21-203. STANDARDS OF CARE. A FIDUCIARY SHALL DISCHARGE THE FIDUCIARY'S DUTIES WITH RESPECT TO (1) FOR THE EXCLUSIVE PURPOSES OF PROVIDING BENEFITS TO THE SYSTEMS; (2) WITH THE CARE, SKILL, PRUDENCE, AND DILIGENCE UNDER THE (3) BY DIVERSIFYING THE INVESTMENTS OF THE SEVERAL SYSTEMS SO (4) IN ACCORDANCE WITH THE LAWS GOVERNING THE SEVERAL (5) IN ACCORDANCE WITH THE DOCUMENTS AND INSTRUMENTS REVISOR'S NOTE: This section formerly was Art. 73B, § 1-203. The only changes are in style. Defined terms: "Fiduciary" § 21-201 - 387 -
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Volume 773, Page 387 View pdf image |
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