Maryland § 1-203
Full text of Maryland Maryland Code § 1-203, with citation guidance and answers to common questions.
§ 1-203.
(a) In this section, “fiduciary” includes a personal representative, trustee, or guardian.
(b) Except as otherwise provided in this article, a fiduciary is liable for the taxes on property held by the fiduciary as a fiduciary.
(c) Except as otherwise provided in subsection (d) of this section or in the case of default or breach of duty, a fiduciary’s liability extends only to assets that the fiduciary holds as a fiduciary.
(d) (1) A fiduciary who distributes property held as a fiduciary after the date of finality for the next following taxable year shall retain sufficient funds to pay any taxes on the property for that taxable year for any assessment against the property held in a fiduciary capacity, if the assessment is made before the date of finality.
(2) If the fiduciary fails to retain sufficient funds to pay these taxes, the fiduciary and the bond of the fiduciary are liable for the taxes.
Frequently Asked Questions About Maryland § 1-203
What does Maryland Code § 1-203 cover?
Section 1-203 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 1-203?
A common citation format is "Maryland Code § 1-203" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 1-203 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.