Maryland § 15-1A-03
Full text of Maryland Maryland Code § 15-1A-03, with citation guidance and answers to common questions.
§ 15-1A-03.
(a) For purposes of qualifying as a fiduciary with respect to a capital requirement, a corporate fiduciary may attribute to its capital and surplus the capital and surplus of any:
(1) Bank, trust company, or bank holding company of which it is a direct or indirect subsidiary or affiliate; or
(2) Corporation with its principal office in this State if the corporate fiduciary is:
(i) A trust company as defined under § 1-101 of this article; and
(ii) A wholly owned subsidiary of the corporation.
(b) When a successor fiduciary qualifies under this section, the following entities shall be jointly and severally liable with the successor fiduciary for claims against the successor fiduciary when acting in its fiduciary capacity:
(1) Any bank, trust company, or bank holding company of which a successor fiduciary is a direct or indirect subsidiary or affiliate; or
(2) Any corporation described in subsection (a) of this section with respect to a corporate fiduciary acting as a successor fiduciary.
Frequently Asked Questions About Maryland § 15-1A-03
What does Maryland Code § 15-1A-03 cover?
Section 15-1A-03 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 § 15-1A-03?
A common citation format is "Maryland Code § 15-1A-03" (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 § 15-1A-03 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.