Maryland § 3-512
Full text of Maryland Maryland Code § 3-512, with citation guidance and answers to common questions.
§ 3-512.
(a) Except as otherwise provided in this section, a trust company may not:
(1) Invest its own funds in a common trust fund that it administers; or
(2) Have any interest, other than its fiduciary interest, in the assets in a common trust fund that it administers.
(b) If, because of a creditor relationship or otherwise, a trust company acquires an interest in a participation in a common trust fund that it administers, the participation shall be withdrawn on the next valuation date allowed by the fund plan.
(c) A trust company does not have a prohibited interest in the assets of a common trust fund that it administers merely because the trust company owns in its own right any stocks, bonds, or other obligations issued by a person from whom the fund also holds stocks, bonds, or other obligations.
Frequently Asked Questions About Maryland § 3-512
What does Maryland Code § 3-512 cover?
Section 3-512 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 § 3-512?
A common citation format is "Maryland Code § 3-512" (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 § 3-512 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.