Section 12-405 - Investment company. - Maryland Statutes

§ 12-405. Investment company.
 

(a)  Applicability of section.- This section applies to a statutory trust that is an investment company, as defined by the Investment Company Act of 1940. 

(b)  Independent and disinterested.- A trustee of a statutory trust who with respect to the statutory trust is not an interested person, as defined by the Investment Company Act of 1940, shall be deemed to be independent and disinterested when making a determination or taking any action as a trustee. 
 

[2010, ch. 611, § 1.]