Maryland § 3-511
Full text of Maryland Maryland Code § 3-511, with citation guidance and answers to common questions.
§ 3-511.
(a) A trust company may invest in a common trust fund money from an account that it administers as a cofiduciary if the trust company:
(1) Otherwise may do so under § 3-510 of this subtitle; and
(2) First obtains the written consent of all other cofiduciaries of that account.
(b) A trust company that administers a common trust fund, in which an account held by the trust company as cofiduciary participates, is solely responsible for management and control of the fund.
(c) A cofiduciary, other than the trust company, who consents in good faith to the participation of an account in a common trust fund is not liable to the beneficiaries for the management of the fund.
(d) On receipt of the written request of a cofiduciary to do so, the trust company shall withdraw the participation of a fiduciary account in a common trust fund at the earliest date that the fund plan permits.
Frequently Asked Questions About Maryland § 3-511
What does Maryland Code § 3-511 cover?
Section 3-511 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 § 3-511?
A common citation format is "Maryland Code § 3-511" (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 § 3-511 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.