Md. Code Ann., Est. & Trusts § 15-302
Registration of security in fiduciary's name
Effective Oct 1, 2019Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.State of Maryland
- (1) Is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship; and
- (2) May assume without inquiry that the newly registered owner continues to be the fiduciary until the corporation or transfer agent receives written notice that the fiduciary is no longer acting as the fiduciary with respect to the particular security.
A corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary:
Added by Acts 1974, c. 11, § 2, eff. July 1, 1974. Amended by Acts 2019, c. 197, § 1, eff. Oct. 1, 2019.
Formerly Art. 37A, § 16.