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Statutes Text

Article - Education


    (a)    The State Treasurer shall purchase a bond for each fiduciary in accordance with Title 9, Subtitle 17 of the State Government Article.

    (b)    Unless a fiduciary is bonded, the fiduciary may not exercise custody or control of any assets of the Trust.

    (c)    A fiduciary may not allow another fiduciary to act in violation of this section.

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