Volume 773, Page 390 View pdf image |
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Ch. 6 1994 LAWS OF MARYLAND 21-206. LIABILITY OF FIDUCIARY FOR BREACH OF DUTY. (A) LIABILITY. SUBJECT TO § 21-207 OF THIS SUBTITLE, A FIDUCIARY WHO BREACHES ANY OF (1) IS PERSONALLY LIABLE TO THE SEVERAL SYSTEMS FOR ANY LOSSES (2) SHALL RESTORE TO THE SEVERAL SYSTEMS ANY PROFITS OF THE (3) IS SUBJECT TO ANY EQUITABLE OR REMEDIAL RELIEF, INCLUDING (B) LIMITATION ON LIABILITY. A FIDUCIARY IS NOT LIABLE WITH RESPECT TO A BREACH OF FIDUCIARY (1) BEFORE THE FIDUCIARY BECAME A FIDUCIARY; OR . (2) AFTER THE FIDUCIARY CEASED TO BE A FIDUCIARY. REVISOR'S NOTE: This section is new language derived without substantive Defined terms: "Fiduciary" § 21-201 21-207. INDEMNIFICATION OF FIDUCIARIES. (A) IN GENERAL. SUBJECT TO THE PROVISIONS OF THIS SECTION, THE STATE SHALL INDEMNIFY (B) STANDARDS FOR INDEMNIFICATION. (1) IN THIS SUBSECTION "EXPENSES" INCLUDE: (I) REASONABLE ATTORNEY'S FEES; (II) JUDGMENTS; (III) FINES; AND (IV) OTHER EXPENSES THAT WERE ACTUALLY AND REASONABLY - 390 -
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Volume 773, Page 390 View pdf image |
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