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Statutes Text

Article - Financial Institutions




§3–517.

    (a)    The ownership of and title to the individual assets in a common trust fund are solely in the trust company, as trustee of the fund.

    (b)    A trust company shall show clearly on its records:

        (1)    The name of each fiduciary account on behalf of which the trust company holds a participation in a common trust fund; and

        (2)    The extent of the interest held for that fiduciary account.



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