(4) UNLESS OTHERWISE PROVIDED IN THE GOVERNING INSTRUMENT
OF A BUSINESS TRUST, ANY REMAINING ASSETS SHALL BE DISTRIBUTED TO THE
BENEFICIAL OWNERS.

(5) ANY PERSON, INCLUDING ANY TRUSTEE, WHO UNDER THE
GOVERNING INSTRUMENT OF THE BUSINESS TRUST IS RESPONSIBLE FOR WINDING
UP A BUSINESS TRUST'S AFFAIRS WHO HAS COMPLIED WITH THIS SUBSECTION IS
NOT PERSONALLY LIABLE TO THE CLAIMANTS OF THE DISSOLVED BUSINESS TRUST
BY REASON OF SUCH PERSON'S ACTIONS IN WINDING UP THE BUSINESS TRUST.

12-203.

(A) A MARYLAND BUSINESS TRUST SHALL HAVE:

(1) A PRINCIPAL OFFICE IN THIS STATE; AND

(2) AT LEAST ONE RESIDENT AGENT WHO SHALL BE:

(I) A CITIZEN OF THE STATE WHO RESIDES IN THE STATE; OR

(II) A MARYLAND CORPORATION.

(B) (1) A BUSINESS TRUST MAY DESIGNATE OR CHANGE ITS RESIDENT
AGENT OR PRINCIPAL OFFICE BY FILING FOR RECORD WITH THE DEPARTMENT A
CERTIFIED COPY OF A RESOLUTION OF ITS TRUSTEES THAT AUTHORIZES THE
DESIGNATION OR CHANGE.

(2) A BUSINESS TRUST MAY CHANGE THE ADDRESS OF ITS RESIDENT
AGENT BY FILING FOR RECORD WITH THE DEPARTMENT A STATEMENT OF THE
CHANGE SIGNED BY ONE OF ITS TRUSTEES OR BY AN OFFICER OF THE BUSINESS
TRUST.

(3) A DESIGNATION OR CHANGE OF A BUSINESS TRUST'S PRINCIPAL
OFFICE OR ITS RESIDENT AGENT OR ITS RESIDENT AGENT'S ADDRESS UNDER THIS
SUBSECTION IS EFFECTIVE WHEN THE DEPARTMENT ACCEPTS THE RESOLUTION OR
STATEMENT FOR RECORD.

(C) (1) A RESIDENT AGENT WHO CHANGES THE RESIDENT AGENT'S
ADDRESS IN THE STATE SHALL NOTIFY THE DEPARTMENT OF THE CHANGE BY
FILING FOR RECORD WITH THE DEPARTMENT A STATEMENT OF THE CHANGE
SIGNED BY THE RESIDENT AGENT OR ON BEHALF OF THE RESIDENT AGENT.

(2) THE STATEMENT SHALL INCLUDE:

(I) THE NAMES OF THE BUSINESS TRUSTS FOR WHICH THE
CHANGE IS EFFECTIVE;

(II) THE RESIDENT AGENT'S OLD AND NEW ADDRESSES; AND

(III) THE DATE ON WHICH THE CHANGE IS EFFECTIVE.