Maryland § 14.5-710
Full text of Maryland Maryland Code § 14.5-710, with citation guidance and answers to common questions.
§ 14.5-710.
(a) The following persons may exercise trust or fiduciary powers in this State:
(1) An individual;
(2) A trust company as defined in § 1–101 of this article;
(3) An organization exempt from taxation under § 501(c) of the Internal Revenue Code of 1986, as amended; and
(4) Subject to subsection (b) of this section, a bank, trust company, or savings bank, other than one described in item (2) of this subsection, that is:
(i) Organized under the laws of another state and authorized to exercise trust or fiduciary powers in the state where the principal place of business of the institution is located; or
(ii) Organized under the laws of the United States and authorized to exercise trust or fiduciary powers under federal law.
(b) (1) A bank, trust company, or savings bank described in subsection (a)(4) of this section may exercise trust or fiduciary powers in this State only if the laws of the state where its principal place of business is located authorize a bank, trust company, or savings bank from this State to exercise trust or fiduciary powers in that state.
(2) A bank, trust company, or savings bank authorized to exercise trust powers under subsection (a)(4) of this section shall file with the Commissioner of Financial Regulation, before exercising trust powers in this State, information sufficient to identify:
(i) The correct corporate name of the bank, trust company, or savings bank;
(ii) An address and a telephone number of a contact person for the bank, trust company, or savings bank;
(iii) A resident agent; and
(iv) Additional information considered necessary by the Commissioner for protection of the public.
Frequently Asked Questions About Maryland § 14.5-710
What does Maryland Code § 14.5-710 cover?
Section 14.5-710 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 § 14.5-710?
A common citation format is "Maryland Code § 14.5-710" (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 § 14.5-710 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.