Maryland § 5-805
Full text of Maryland Maryland Code § 5-805, with citation guidance and answers to common questions.
§ 5-805.
(a) (1) For purposes of the trust deposit, title to the trusteed assets is vested in the trustee and its successor.
(2) The trust agreement shall provide that title to the trusteed assets be vested as described in paragraph (1) of this subsection.
(b) The trustee shall:
(1) keep the trusteed assets separate from other assets; and
(2) maintain a record of the trusteed assets sufficient to identify the trusteed assets at all times.
(c) (1) On written request of the Commissioner, the trustee shall file with the Commissioner statements, in the form required by the Commissioner, certifying the character and amount of the trusteed assets.
(2) If the trustee after a reasonable time fails to file a statement requested by the Commissioner under paragraph (1) of this subsection, the Commissioner may suspend or revoke the certificate of authority of the alien insurer that deposited the trusteed assets.
(d) The Commissioner may examine the trusteed assets of an alien insurer at any time in accordance with the conditions and procedures that govern the examination of insurers in general under Title 2 of this article.
Frequently Asked Questions About Maryland § 5-805
What does Maryland Code § 5-805 cover?
Section 5-805 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 § 5-805?
A common citation format is "Maryland Code § 5-805" (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 § 5-805 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.