Section 12-203 - Principal office; resident agent. - Maryland Statutes

§ 12-203. Principal office; resident agent.
 

(a)  Requirements.- A Maryland statutory trust shall have: 

(1) A principal office in this State; and 

(2) At least one resident agent who is: 

(i) An individual who resides in the State; or 

(ii) A Maryland corporation. 

(b)  Designation or change.-  

(1) A statutory trust may designate or change its resident agent or principal office by filing for record with the Department a certified copy of a resolution of its trustees that authorizes the designation or change. 

(2) A statutory trust may change the address of its resident agent by filing for record with the Department a statement of the change signed by one of its trustees or by an officer of the statutory trust. 

(3) A designation or change of a statutory trust's principal office or its resident agent or its resident agent's address under this subsection is effective when the Department accepts the resolution or statement for record. 

(c)  Address change.-  

(1) A resident agent who changes the resident agent's name or address in the State shall notify the Department of the change by filing for record with the Department a statement of the change signed by the resident agent or on behalf of the resident agent. 

(2) The statement shall include: 

(i) The names of the statutory trusts for which the change is effective; 

(ii) The resident agent's old and new addresses or the resident agent's old and new names; and 

(iii) The date on which the change is effective. 

(3) If the old and new addresses of the resident agent are the same as the old and new addresses of the principal office of the statutory trust, the statement may include a change of address for the principal office if: 

(i) The resident agent notifies the statutory trust in writing that the statement will be filed; and 

(ii) The statement recites that the resident agent has done so. 

(4) The statement of the change of name or address of the resident agent or principal office of a statutory trust is effective when the Department accepts the statement for record. 

(d)  Resignation.-  

(1) A resident agent may resign by filing with the Department a counterpart or photocopy of the resident agent's signed resignation. 

(2) Unless a later time is specified in the resignation, the resignation is effective: 

(i) At the time it is filed with the Department, if the statutory trust has more than one resident agent; or 

(ii) 10 days after it is filed with the Department, if the statutory trust has only one resident agent. 

(e)  Service of process.- Service of process on a registered agent designated by a statutory trust under subsection (b) of this section shall be as effective as if served on one of the trustees of the statutory trust. 
 

[1999, ch. 452; 2010, ch. 611, § 1.]