(4) If a guardianship is terminated for reasons other than the
attainment of majority, cessation of disability, or death of the protected person, the
guardian shall distribute the estate in accordance with the order of the court
terminating the guardianship.

SECTION 2. AND BE IT FURTHER ENACTED, That the powers articulated by
this Act, being declaratory of existing law, apply to all gifts and disclaimers of the
property of the minor or disabled person, authorized by court order, whether such
order was issued before, on, or after the effective date of this Act.

SECTION 3. AND BE IT FURTHER ENACTED, That this Act shall take effect
October 1, 1999.

Approved May 27, 1999.

CHAPTER 663
(House Bill 759)

AN ACT concerning

Estates and Trusts - Conversion of Sole Proprietorships to Limited Liability
Companies by Personal Representatives and Fiduciaries

FOR the purpose of allowing a personal representative to convert a decedent's sole
proprietorship to a limited liability company; allowing a fiduciary to convert a
decedent's sole proprietorship to a limited liability company; making a stylistic
change; and generally relating to the powers of personal representatives and
fiduciaries.

BY repealing and reenacting, with amendments,
Article - Estates and Trusts
Section 7-401 and 15-102
Annotated Code of Maryland

(1991 Replacement Volume and 1998 Supplement)

SECTION 1. BE IT ENACTED BY THE. GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Estates and Trusts

7-401.

(a) In the performance of his duties pursuant to § 7-101, a personal
representative may exercise all of the power or authority conferred upon him by.
statute or in the will, without application to, the approval of, or ratification by the
court. Except as validly limited by the will or. by an order of court, a personal
representative may, in addition to the power or authority contained in the will and to
other common-law or statutory powers, exercise the powers enumerated in this
section.