STATE STATUTES & CODES
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MARYLAND STATUTES AND CODES
Section 3-501 - Definitions.
§ 3-501. Definitions.
(a) In general.- In this subtitle the following words have the meanings indicated.
(b) Common trust fund.- "Common trust fund" means a fund that a trust company maintains under this subtitle solely for the collective investment of money held by the trust company as fiduciary.
(c) Fund plan.- "Fund plan" means a written plan for the establishment and administration of a common trust fund.
(d) Trust company.- "Trust company" includes a national banking association that has powers similar to those given to a trust company under the laws of this State.
(e) Valuation date.- "Valuation date" means a date as of which a trust company determines the value of the assets in a common trust fund that it administers.
[An. Code 1957, art. 11, § 62; 1980, ch. 33, § 2.]