Section 2-310.2 - Shares held in fiduciary capacity for benefit of other class of shares. - Maryland Statutes

§ 2-310.2. Shares held in fiduciary capacity for benefit of other class of shares.
 

(a)  "Investment company" defined.- In this section, "investment company" means a corporation registered under the Investment Company Act of 1940. 

(b)  Authorized.- Unless otherwise provided in the charter of an investment company, if authorized by its board of directors, shares of any class or series of its stock acquired by an investment company using assets allocated to any other class or series of stock of the investment company may be held by the investment company in a fiduciary capacity for the benefit of the holders of shares of the other class or series of stock, and the investment company may exercise voting rights, receive distributions, and be allocated other rights to the extent determined by its board of directors. 
 

[1999, ch. 453.]