Maryland § 3-505
Full text of Maryland Maryland Code § 3-505, with citation guidance and answers to common questions.
§ 3-505.
Except as provided in § 3-507 of this subtitle, a fund plan shall state the name of the fund and include detailed provisions, not inconsistent with this subtitle, as to:
(1) The intervals at which the trust company will determine the value of the assets in the fund;
(2) The intervals at which the trust company will have an audit made of the fund;
(3) The manner in which the fund is to be operated;
(4) The investment powers of the trust company with respect to the fund;
(5) The terms and conditions that govern entry in and withdrawal from the fund;
(6) The auditing and settling of accounts of the trust company with respect to the fund;
(7) The basis and method to be used for valuing fund assets;
(8) The circumstances and manner in which the fund may be terminated; and
(9) Any other matters that are necessary to define clearly the rights and duties of the trust company and fund participants.
Frequently Asked Questions About Maryland § 3-505
What does Maryland Code § 3-505 cover?
Section 3-505 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 § 3-505?
A common citation format is "Maryland Code § 3-505" (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 § 3-505 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.