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Ch. 478
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2002 LAWS OF MARYLAND
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(I) (2) IF THE QUALIFIED BENEFICIARY AN INDIVIDUAL
DESCRIBED IN PARAGRAPH (1) OF THIS SUBSECTION IS A MINOR, THE QUALIFIED
BENEFICIARY'S INDIVIDUAL'S NATURAL OR LEGAL GUARDIAN; AND OR
(II) (3) IF THE QUALIFIED BENEFICIARY AN INDIVIDUAL
DESCRIBED IN PARAGRAPH (1) OF THIS SUBSECTION IS A DISABLED PERSON, AS
DEFINED IN § 13-101 OF THIS ARTICLE, ANY PERSON ACTING ON BEHALF OF THE
QUALIFIED BENEFICIARY INDIVIDUAL UNDER A GUARDIANSHIP,
CONSERVATORSHIP, OR COMMITTEE.
(B) A TRUSTEE SHALL GIVE NOTICE OF A PROPOSED DECISION REGARDING
THE EXERCISE OR NONEXERCISE OF THE DISCRETIONARY POWER CONFERRED
UNDER:
(1) SECTION 15-502.1(A) OF THIS SUBTITLE TO CONVERT A TRUST TO A
UNITRUST;
(2) SECTION 15-502.1(1) OF THIS SUBTITLE TO RECONVERT FROM A
UNITRUST; OR
(3) SECTION 15-502.2(A) OF THIS SUBTITLE TO ADJUST BETWEEN
PRINCIPAL AND INCOME.
(C) THE TRUSTEE SHALL MAIL THE NOTICE REQUIRED UNDER SUBSECTION
(B) OF THIS SECTION TO:
(1) ALL QUALIFIED BENEFICIARIES, EXCEPT THAT NOTICE OF THE
PROPOSED DECISION NEED NOT BE GIVEN TO ANY QUALIFIED BENEFICIARY WHO
CONSENTS IN WRITING TO THE PROPOSED DECISION AT ANY TIME BEFORE THE
NOTICE IS MAILED; AND
(2) THE CREATOR OF THE TRUST, IF LIVING.
(D) THE NOTICE OF PROPOSED DECISION SHALL STATE THAT IT IS GIVEN IN
ACCORDANCE WITH THIS SECTION AND SHALL STATE THE FOLLOWING:
(1) THE NAME AND MAILING ADDRESS OF THE TRUSTEE, TOGETHER
WITH THE NAME AND TELEPHONE NUMBER OF A PERSON WHO MAY BE CONTACTED
FOR ADDITIONAL INFORMATION;
(2) A DESCRIPTION OF THE DECISION PROPOSED TO BE TAKEN AND, IF
THE PROPOSED DECISION ALSO INCLUDES AN ACTION THAT REQUIRES AN ORDER OF
A COURT IN ACCORDANCE WITH § 15-502.1 OR § 15-502.2 OF THIS SUBTITLE, A
DESCRIPTION OF THAT ACTION;
(3) THE TIME WITHIN WHICH WRITTEN CONSENTS TO THE PROPOSED
DECISION MAY BE GIVEN TO THE TRUSTEE, WHICH SHALL BE AT LEAST 30 DAYS
AFTER THE MAILING OF THE NOTICE OF PROPOSED DECISION; AND
(4) THE DATE ON OR AFTER WHICH THE PROPOSED DECISION MAY BE
TAKEN OR IS EFFECTIVE, WHICH SHALL BE AFTER THE END OF THE TIME WITHIN
WHICH CONSENTS TO THE PROPOSED DECISION MAY BE GIVEN TO THE TRUSTEE.
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- 3816 -
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