reglab/housing_qa huggingface dataset:
MD. Estates and Trusts Code Ann. §  14.5-902 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 9 - Liability of Trustees and Rights of Persons Dealing With the Trustee|Section 14.5-902 - Extent of Liability; Contribution

    (a)    A trustee that commits a breach of trust is liable to the beneficiaries affected by the breach for the greater of:        (1)    The amount required to restore the value of the trust property and trust distributions to what they would have been had the breach not occurred; or        (2)    The profit the trustee made by reason of the breach.    (b)    (1)    Except as otherwise provided in this subsection, if more than one trustee is liable to the beneficiaries for a breach of trust, a trustee is entitled to contribution from the other trustee or trustees that are also liable.        (2)    A trustee that received a benefit from a breach of trust under this subsection is not entitled to contribution from another trustee to the extent of the benefit received.
MD. Estates and Trusts Code Ann. §  14.5-903 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 9 - Liability of Trustees and Rights of Persons Dealing With the Trustee|Section 14.5-903 - No Liability for Loss or Depreciation in Value of Trust Property or for No Profits

    Absent a breach of trust or the applicable standard of care, a trustee is not liable to a beneficiary for a loss or depreciation in the value of trust property or for not having made a profit.
MD. Estates and Trusts Code Ann. §  14.5-904 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 9 - Liability of Trustees and Rights of Persons Dealing With the Trustee|Section 14.5-904 - Limitation Period for Breach of Trust Action

    (a)    Except as otherwise provided in § 14.5–907 of this subtitle, a beneficiary may not bring a judicial action against a trustee for breach of trust more than 1 year after the date that the beneficiary or the representative of the beneficiary is sent a report that adequately discloses the existence of a potential claim for breach of trust and informs the beneficiary or the representative of the beneficiary of the time allowed for bringing a judicial action.    (b)    A report adequately discloses the existence of a potential claim for breach of trust if the report provides sufficient information so that the beneficiary or representative knows of the potential claim or should have inquired into the existence of the claim.    (c)    This section does not limit the time for bringing an action against a trustee for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries.
MD. Estates and Trusts Code Ann. §  14.5-906 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 9 - Liability of Trustees and Rights of Persons Dealing With the Trustee|Section 14.5-906 - Exculpatory Clauses Unenforceable

    (a)    A term of a trust relieving a trustee of liability for breach of trust is unenforceable to the extent that the term:        (1)    Relieves the trustee of liability for breach of trust committed in bad faith or with reckless indifference to the purposes of the trust or the interests of the beneficiaries;        (2)    Was inserted into the trust as the result of an abuse by the trustee of a fiduciary or confidential relationship to the settlor; or        (3)    Was unreasonable under the circumstances.    (b)    An exculpatory term drafted or caused to be drafted by the trustee is invalid as an abuse of a fiduciary or confidential relationship unless the trustee proves that the exculpatory term is fair under the circumstances and that the existence and contents of the exculpatory term were adequately communicated to the settlor.    (c)    If the settlor was represented by independent counsel, an exculpatory term is not considered drafted or caused to be drafted by the trustee, even if the term incorporates suggested provisions provided by the trustee.
MD. Estates and Trusts Code Ann. §  14.5-908 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 9 - Liability of Trustees and Rights of Persons Dealing With the Trustee|Section 14.5-908 - Actions and Claims Against Trustee

    (a)    Except as otherwise provided in the contract, a trustee is not personally liable on a contract properly entered into by the trustee in the fiduciary capacity of the trustee in the course of administering the trust if the trustee in the contract disclosed the fiduciary capacity.    (b)    A claim based on a contract entered into by a trustee in the fiduciary capacity of the trustee, on an obligation arising from ownership or control of trust property, or on a tort committed in the course of administering a trust, may be asserted in a judicial proceeding against the trustee in the fiduciary capacity of the trustee, regardless of whether the trustee is personally liable for the claim.
MD. Estates and Trusts Code Ann. §  14.5-909 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 9 - Liability of Trustees and Rights of Persons Dealing With the Trustee|Section 14.5-909 - Protection of Persons Dealing With Trustees

    (a)    In the absence of actual knowledge or of reasonable cause to inquire as to whether a trustee is improperly exercising the trustee’s power, a person dealing with a trustee need not inquire whether a trustee is properly exercising the power of the trustee and is protected as if the trustee properly exercised the power.    (b)    A person need not see to the proper application of trust assets paid or delivered to a trustee.
MD. Estates and Trusts Code Ann. §  14.5-910 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 9 - Liability of Trustees and Rights of Persons Dealing With the Trustee|Section 14.5-910 - Certification of Trust

    (a)    Instead of furnishing a copy of the trust instrument to a person other than a beneficiary, the trustee may furnish to the person a certification of trust containing the following information:        (1)    That the trust exists and the date the trust instrument was executed;        (2)    The identity of the settlor;        (3)    The identity and address of the currently acting trustee;        (4)    The powers of the trustee in the pending transaction;        (5)    The revocability or irrevocability of the trust and the identity of a person holding a power to revoke the trust;        (6)    The authority of cotrustees to sign or otherwise authenticate and whether the authentication of all or fewer than all of the cotrustees is required in order to exercise powers of the trustee;        (7)    The taxpayer identification number of the trust, unless the taxpayer identification number is also the Social Security number of a settlor; and        (8)    The manner and name in which title to trust property may be taken.    (b)    A certification of trust may be signed or otherwise authenticated by a trustee.    (c)    A certification of trust shall state that the trust has not been revoked, modified, or amended in a manner that would cause the representations contained in the certification of trust to be incorrect.    (d)    A certification of trust need not contain the dispositive terms of a trust.    (e)    A recipient of a certification of trust may require the trustee to furnish copies of those excerpts from the original trust instrument and later amendments which designate the trustee and confer on the trustee the power to act in the pending transaction.    (f)    A person that acts reasonably in reliance on a certification of trust without knowledge that the representations contained in the certification are incorrect is not liable for the act.    (g)    While acting reasonably under the circumstances, a person that enters into a transaction in reliance on a certification of trust may enforce the transaction against the trust property as if the representations contained in the certification were correct.    (h)    This section does not limit:        (1)    The right of a person to obtain a copy of the trust instrument in a judicial proceeding concerning the trust; or        (2)    The right of a title insurance producer or title insurer to obtain a copy of the trust instrument for the sole purpose of determining whether the settlor’s interest in real property may be subject to creditors’ claims, when the trustee is selling, encumbering, or disposing of the real property and title insurance has been requested for the transaction.
MD. Estates and Trusts Code Ann. §  14.5-1003 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 10 - Miscellaneous Provisions|Section 14.5-1003 - Interests in Grantor and Qualified Terminable Interest Property Trusts

    (a)    An individual who creates a trust may not be considered the settlor of that trust with regard to the individual’s interest in the trust if:        (1)    That interest is the authority of the trustee under the trust instrument or any other provision of law to pay or reimburse the individual for any tax on trust income or trust principal that is payable by the individual under the law imposing that tax; or        (2)    All of the following apply:            (i)    The individual creates or has created the trust for the benefit of the individual’s spouse;            (ii)    The trust is treated as qualified terminable interest property under § 2523(f) of the Internal Revenue Code of 1986; and            (iii)    The individual’s interest in the trust income, trust principal, or both follows the termination of the spouse’s prior interest in the trust.    (b)    A creditor of an individual described in subsection (a) of this section may not attach, exercise, reach, or otherwise compel distribution of:        (1)    Any principal or income of the trust;        (2)    Any principal or income of any other trust to the extent that the property held in the other trust is attributable to a trust described in subsection (a)(2) of this section;        (3)    The individual’s interest in the trust; or        (4)    The individual’s interest in any other trust to the extent that the property held in the other trust is attributable to a trust described in subsection (a)(2) of this section.    (c)    This section may not be construed to affect any State law with respect to a fraudulent transfer by an individual to a trustee.
MD. Estates and Trusts Code Ann. §  14.5-1004 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 10 - Miscellaneous Provisions|Section 14.5-1004 - Enforceability of Electronic Records or Electronic Signatures

    The provisions of this title governing the legal effect, validity, or enforceability of electronic records or electronic signatures, and of contracts formed or performed with the use of those records or signatures, conform to the requirements of § 102 of the Electronic Signatures in Global and National Commerce Act (15 U.S.C. §�7002) and supersede, modify, and limit the requirements of the Electronic Signatures in Global and National Commerce Act.
MD. Estates and Trusts Code Ann. §  14.5-1005 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 10 - Miscellaneous Provisions|Section 14.5-1005 - Severability

    If a provision of this title or the application of a provision to a person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this title which can be given effect without the invalid provision or application, and to this end the provisions of this title are severable.
MD. Estates and Trusts Code Ann. §  14.5-1006 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 10 - Miscellaneous Provisions|Section 14.5-1006 - Applicability of Title

    (a)    Except as otherwise provided in this title:        (1)    This title applies to all trusts created before, on, or after  January 1, 2015;        (2)    This title applies to all judicial proceedings concerning trusts commenced on or after  January 1, 2015;        (3)    This title does not apply to judicial proceedings concerning trusts commenced before  January 1, 2015;        (4)    A rule of construction or presumption provided in this title applies to trust instruments executed before  January 1,  2015, unless there is a clear indication of a contrary intent in the terms of the trust; and        (5)    An act done before  January 1, 2015, is not affected by this title.    (b)    If a right is acquired, extinguished, or barred on the expiration of a prescribed period that has commenced to run under another statute before  January 1, 2015, that statute continues to apply to the right even if the statute has been repealed or superseded.
MD. Estates and Trusts Code Ann. §  15-103 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-103 - Securities Under Reorganization

    (a)    Whenever securities are deposited or exchanged, or tendered for deposit or exchanged by a fiduciary under a reorganization agreement or plan of reorganization, a committee formulating, proposing, or carrying out a plan or soliciting deposits or exchanges under an agreement or plan, any depositary with or through which the deposit or exchange of securities may be made, solicited, requested or permitted, and a person to whom or to which securities are to be delivered pursuant to an agreement or a plan, may accept, receive, hold and ultimately dispose of the securities in accordance with the authorization or instructions of the fiduciary depositing or exchanging securities or tendering them for deposit or exchange under a reorganization agreement or plan of reorganization, without an obligation to inquire whether a fiduciary is authorized to make a deposit or exchange or is committing a breach of the obligation as fiduciary in so doing.    (b)    No committee, depositary, or ultimate recipient is liable in any way of any kind to a person for an action taken, suffered, or permitted with respect to securities in accordance with the authorization or instructions given by a fiduciary depositing or exchanging the securities or tendering the securities for deposit or exchange, unless the committee, depositary, or ultimate recipient has actual knowledge that a fiduciary is committing a breach of fiduciary trust in making the deposit or exchange, or has knowledge of facts that the action or conduct of the committee, depositary, or ultimate recipient amounts to bad faith.
MD. Estates and Trusts Code Ann. §  15-104 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-104 - Fiduciary Authorized to Deposit Securities With Securities Clearing Corporation

    (a)    (1)    Notwithstanding any other provision of law, a fiduciary holding securities in a fiduciary capacity, a bank or trust company holding securities as a custodian or agent, and a bank or trust company holding securities as custodian for a fiduciary, is authorized to deposit or arrange for the deposit of the securities in a securities clearing corporation, regardless of whether the depositor owns capital stock of the clearing corporation.        (2)    When securities are deposited in accordance with paragraph (1) of this subsection, certificates representing securities of the same class of the same issuer may be merged and held in bulk in the name of the nominee of the clearing corporation with any other securities deposited in the clearing corporation by a person regardless of the ownership of the securities, and certificates of small denomination may be merged into one or more certificates of larger denomination.        (3)    The records of the fiduciary and the records of the bank or trust company acting as custodian, as agent or as custodian for a fiduciary shall show at all times the name of the party for whose account the securities are deposited.        (4)    Title to the securities may be transferred by bookkeeping entry on the books of the clearing corporation without physical delivery of certificates representing the securities.    (b)    (1)    A bank or trust company depositing securities pursuant to this section is subject to the rules and regulations as, in the case of State chartered institutions, the Commissioner of Financial Regulation and, in the case of national banking associations, the Comptroller of the Currency may issue from time to time.        (2)    A bank or trust company acting as custodian for a fiduciary, on demand by the fiduciary, shall certify in writing to the fiduciary the securities deposited in accordance with this section by the bank or trust company in the clearing corporation for the account of the fiduciary.    (c)    A fiduciary, on demand by any party to a judicial proceeding for the settlement of the account of the fiduciary or on demand by the attorney for the party, shall certify in writing to the party the securities deposited by the fiduciary in the clearing corporation for its account as fiduciary.    (d)    This section applies whether the trust be created or the appointment made prior or subsequent to July 1, 1973.
MD. Estates and Trusts Code Ann. §  15-105 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-105 - Agreement of Fiduciary and Surety for Deposit of Assets

    (a)    A fiduciary, or party of whom a bond, undertaking or other obligation is required, may agree or arrange with a surety for a general or a special deposit for safekeeping of any money, assets and other property, for which the fiduciary is or may be responsible, with a bank, savings bank, safe deposit or trust company authorized by law to do business and situate in the county in which the fiduciary’s bond is filed.    (b)    A deposit shall be made in a manner as to prevent the withdrawal or alienation of money, assets, or other property, or any part of it, without the written consent of the surety, or an order of a court, made on notice to the surety as the court directs.
MD. Estates and Trusts Code Ann. §  15-107 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-107 - Survival of Power When Right Given One or More Fiduciaries

    Whenever by will, deed, or other instrument, a power to sell, mortgage, lease or otherwise dispose of or deal with property shall be given to any one or more fiduciaries, the power, whether discretionary or otherwise, shall be construed to be appurtenant to the fiduciary office and shall pass to and be exercisable by any surviving or successor fiduciary, unless an intention to the contrary is expressly declared in the will, deed, or other instrument.
MD. Estates and Trusts Code Ann. §  15-108 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-108 - Protection When Distribution Made in Conformity With Order of Court

    (a)    A fiduciary making a distribution or delivery of any property, in conformity to a decree or order of court passed pursuant to the Maryland Rules, shall be protected from a claim in respect to the property by an absent or unknown beneficiary or life tenant proceeded against under the Maryland Rules, or the heirs, personal representatives, or assigns of an absent or unknown beneficiary or life tenant.    (b)    Nothing in this section limits a similar protection granted to fiduciaries by applicable laws in effect before the passage of the Maryland Rules.
MD. Estates and Trusts Code Ann. §  15-109 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-109 - Release of Fiduciary to Whom Property Transferred by Another

    The receipt and release of a foreign fiduciary to whom property is transferred, pursuant to a court order under the Maryland Rules, is a good and sufficient release to the fiduciary transferring the property.
MD. Estates and Trusts Code Ann. §  15-110 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-110 - Enforcement of Order to Give Countersecurity

    (a)    In addition to any other means of enforcing a court order, the court that has ordered a fiduciary to give countersecurity pursuant to the Maryland Rules may compel compliance with the court order by attachment and sequestration.    (b)    If the fiduciary fails to give countersecurity within the time fixed by the court, and is removed:        (1)    The register of wills may bring suit on the bond of the fiduciary to recover taxes and costs; and        (2)    If the register does not bring suit on the bond, and a new fiduciary is appointed, the new fiduciary may bring suit on the bond of the removed fiduciary.
MD. Estates and Trusts Code Ann. §  15-111 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-111 - Resignation of Fiduciary

    The discharge of a fiduciary who has resigned the fiduciary’s office pursuant to the Maryland Rules does not release the fiduciary, or sureties of the fiduciary, from liability to any of the cestui que trustent, or other persons, for acts, defaults, or omissions of duty occurring while the fiduciary was in office.
MD. Estates and Trusts Code Ann. §  15-112 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-112 - Removal of Fiduciary

    (a)    (1)    A court shall remove a fiduciary who has:            (i)    Willfully misrepresented material facts leading to the appointment of the fiduciary or to other action by the court in reference to the fiduciary estate;            (ii)    Willfully disregarded an order of court;            (iii)    Shown to be incapable, with or without fault to properly perform the duties of the office of fiduciary; or            (iv)    Breached the fiduciary duty of good faith or loyalty in the management of property of the fiduciary estate.        (2)    A court may remove a fiduciary who has:            (i)    Negligently failed to file a bond within the time required by rule or order of court;            (ii)    Negligently failed to obey an order of court; or            (iii)    Failed to perform any fiduciary duty, or to competently administer the fiduciary estate.    (b)    Procedures for the removal of a fiduciary shall be conducted by the court in accordance with the provisions of the Maryland Rules applying to a fiduciary.    (c)    The provisions of this section may not apply to personal representatives.
MD. Estates and Trusts Code Ann. §  15-113 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-113 - Joint and Several Liability of Trust Company Affiliates

    An entity that controls, is controlled by, or is under common control with a trust company shall be jointly and severally liable for claims against the trust company when the trust company is acting as a trustee of bond indentures or similar debt issuances, if the trust company:        (1)    May exercise trust or fiduciary powers in the State; and        (2)    Meets the qualifications under 12 U.S.C. § 1841(c)(2)(D).
MD. Estates and Trusts Code Ann. §  15-115 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 15 - Fiduciaries|Subtitle 1 - General Provisions|Section 15-115 - Corporations That Act as Fiduciaries Not Liable as Sureties

    A corporation that under the laws of this State may act as a fiduciary without bond or security other than its own obligation may not incur the liability of a surety upon a bond.