Section 21-205 - Prohibited transactions involving system assets. - Maryland Statutes

§ 21-205. Prohibited transactions involving system assets.
 

In exercising authority, control, or discretion with respect to the several systems, a fiduciary may not: 

(1) use the assets of the several systems for the fiduciary's own interest or account; 

(2) act in a transaction involving the several systems on behalf of a person, or represent a person, if the interests of the person are adverse to the interests of the several systems or the interests of participants; 

(3) receive any consideration for the fiduciary's own account from a person dealing with the several systems in connection with a transaction involving the assets of the several systems; or 

(4) become an endorser or surety or, in any manner, an obligor, for money lent to or borrowed from the Board of Trustees. 
 

[An. Code 1957, art. 73B, § 1-205; 1994, ch. 6, § 2.]