Maryland § 12-301
Full text of Maryland Maryland Code § 12-301, with citation guidance and answers to common questions.
§ 12-301.
(a) There is a Maryland Small Business Retirement Savings Trust.
(b) (1) The Maryland Small Business Retirement Savings Trust shall be administered by the Board for the purpose of promoting greater retirement savings for Maryland private sector employees in a convenient, voluntary, low–cost, and portable manner.
(2) The Board shall enter into an agreement delegating the administration of the Trust to a third–party administrator.
(c) Money in the Trust may be invested or reinvested as determined by the Board.
(d) Any contributions paid by employees into the Trust may be used only to:
(1) pay benefits to the participants of the Program;
(2) pay the cost for administering the Program; and
(3) make investments for the benefit of the Program.
(e) The Board shall establish, by regulation, dates when an employer shall deposit employee contributions.
(f) The State may not transfer any assets of the Trust to the General Fund or any other fund of the State, or otherwise encumber any assets of the Trust.
Frequently Asked Questions About Maryland § 12-301
What does Maryland Code § 12-301 cover?
Section 12-301 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 § 12-301?
A common citation format is "Maryland Code § 12-301" (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 § 12-301 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.