Ch. 6

1994 LAWS OF MARYLAND

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 1-207.

In subsections (a), (b), and (d) of this section, the term "suit" is deleted in
light of the broad phrase "action or proceeding".

In subsection (b)(2) and (3) of this section, the reference to "the State" is
added to clarify who has the responsibility to indemnify a fiduciary.

In subsection (e)(1) of this section, the reference to "any liability asserted
against the fiduciary or incurred by the fiduciary arising out of the fiduciary's
status as a fiduciary" is deleted as unnecessary in light of subsection (a) of this
section.

Defined terms: "Fiduciary" § 21-201
"Several systems" § 20-101

21-208. AGREEMENT RELIEVING FIDUCIARY FROM LIABILITY.

(A)     CERTAIN AGREEMENTS VOID.

EXCEPT AS PROVIDED IN § 21-204(B) AND (C) OF THIS SUBTITLE, A PROVISION IN
AN AGREEMENT THAT PURPORTS TO RELIEVE A FIDUCIARY FROM A
RESPONSIBILITY, OBLIGATION, OR DUTY, OR LIABILITY FOR A RESPONSIBILITY,
OBLIGATION, OR DUTY UNDER THIS SUBTITLE IS AGAINST PUBLIC POLICY AND
VOID.                         

(B)      INDEMNIFICATION.

THIS SUBTITLE DOES NOT PRECLUDE INDEMNIFICATION OF A FIDUCIARY IN
ACCORDANCE WITH § 21-207 OF THIS SUBTITLE.

REVISOR'S NOTE: This section is new language derived without substantive
change from former Art. 73B, § 1-208.

In subsection (a) of this section, the former term "instrument" is deleted as
included in the term "agreement".

Defined term: "Fiduciary" § 21-201

21-209. DISQUALIFICATION OF FIDUCIARY; PENALTIES.

(A) DISQUALIFICATION; PROHIBITED ACTS.

(1) NOTWITHSTANDING ANY OTHER LAW, A PERSON MAY NOT SERVE
AS A FIDUCIARY IF THE PERSON HAS BEEN CONVICTED OF:

(I)       A FELONY;

(II)     A MISDEMEANOR INVOLVING MORAL TURPITUDE;

. (III) A VIOLATION OF THIS SUBTITLE;                               

(IV) A CONSPIRACY. OR ATTEMPT TO COMMIT A CRIME DESCRIBED
UNDER ITEM (I), (II), OR (III) OF THIS PARAGRAPH; OR

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