reglab/housing_qa huggingface dataset:
MD. Estates and Trusts Code Ann. §  14.5-701 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-701 - Acceptance or Rejection of Trusteeship

    (a)    Except as otherwise provided in subsection (c) of this section, a person designated as trustee accepts the trusteeship:        (1)    By substantially complying with a method of acceptance provided in the terms of the trust; or        (2)    If the terms of the trust do not provide a method of acceptance of the trusteeship or the method provided in the terms is not expressly made exclusive, by accepting delivery of the trust property, exercising powers or performing duties as trustee, or otherwise indicating acceptance of the trusteeship.    (b)    (1)    A person designated as trustee that has not yet accepted the trusteeship may reject the trusteeship.        (2)    A designated trustee that does not accept the trusteeship within a reasonable time after knowing of the designation is deemed to have rejected the trusteeship.    (c)    A person designated as trustee, without accepting the trusteeship, may:        (1)    Act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is deceased or lacks capacity, to a qualified beneficiary; and        (2)    Inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.
MD. Estates and Trusts Code Ann. §  14.5-702 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-702 - Bond

    (a)    A trustee shall give bond to secure performance of the duties of the trustee only if the court:        (1)    Finds that a bond is needed to protect the interests of the beneficiaries or is required by the terms of the trust; and        (2)    Has not dispensed with the requirement.    (b)    (1)    The court may specify the amount of a bond, the liabilities of the bond, and whether sureties for the bond are necessary.        (2)    The court may modify or terminate a bond at any time.
MD. Estates and Trusts Code Ann. §  14.5-703 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-703 - Cotrustees

    (a)    If a vacancy occurs in a cotrusteeship, the remaining cotrustees may act for the trust.    (b)    A cotrustee shall participate in the performance of the function of a trustee unless the cotrustee is unavailable to perform the function because of absence, illness, disqualification under other law, or other temporary incapacity or the cotrustee has properly delegated the performance of the function to another trustee.    (c)    If a cotrustee is unavailable to perform duties because of absence, illness, disqualification under other law, or other temporary incapacity, and prompt action is necessary to achieve the purposes of the trust or to avoid injury to the trust property, the remaining cotrustee or cotrustees may act for the trust.    (d)    (1)    A trustee may delegate investment and management functions to a cotrustee as prudent under the circumstances.        (2)    Unless a delegation of an investment or management function was irrevocable, a trustee may revoke a delegation previously made.
MD. Estates and Trusts Code Ann. §  14.5-704 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-704 - Vacancies

    (a)    A vacancy in a trusteeship occurs if:        (1)    A person designated as trustee rejects the trusteeship;        (2)    A person designated as trustee cannot be identified or does not exist;        (3)    A trustee resigns;        (4)    A trustee is disqualified or removed;        (5)    A trustee dies;        (6)    A guardian of the person or guardian of the property is appointed for an individual serving as trustee;        (7)    A trustee cannot be located for 120 consecutive days; or        (8)    A trustee is unable to handle business affairs as determined by two licensed physicians.    (b)    (1)    If one or more cotrustees remain in office, a vacancy in a trusteeship need not be filled.        (2)    A vacancy in a trusteeship shall be filled if the trust has no remaining trustee.    (c)    A vacancy in a trusteeship that is required to be filled shall be filled in the following order of priority by a person:        (1)    Designated in accordance with the terms of the trust to act as successor trustee;        (2)    Appointed by unanimous agreement of the qualified beneficiaries; or        (3)    Appointed by the court.    (d)    The court may appoint an additional trustee or special fiduciary whenever the court considers the appointment necessary for the administration of the trust, whether or not a vacancy in a trusteeship exists or is required to be filled.
MD. Estates and Trusts Code Ann. §  14.5-705 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-705 - Resignation of Trustee

    (a)    A trustee may resign with the approval of the court.    (b)    In approving a resignation of a trustee, the court may issue orders and impose conditions reasonably necessary for the protection of the trust property.    (c)    Liability of a resigning trustee or of a surety on the bond of the trustee for acts or omissions of the trustee is not discharged or affected by the resignation of the trustee.
MD. Estates and Trusts Code Ann. §  14.5-706 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-706 - Removal of Trustee

    In addition to the grounds and procedures for removal of a fiduciary set forth in § 15–112 of this article:        (1)    The settlor, a cotrustee, or a beneficiary may request the court to remove a trustee, or a trustee may be removed by the court on the court’s own initiative;        (2)    The court may remove a trustee if:            (i)    The trustee has committed a serious breach of trust;            (ii)    Lack of cooperation among cotrustees substantially impairs the administration of the trust;            (iii)    Because of unfitness, unwillingness, or persistent failure of the trustee to administer the trust effectively, the court determines that removal of the trustee best serves the interests of the beneficiaries; or            (iv)    There has been a substantial change of circumstances and removal is requested by all of the qualified beneficiaries, the court finds that removal of the trustee best serves the interest of all of the beneficiaries and is not inconsistent with a material purpose of the trust, and a suitable cotrustee or successor trustee is available; and        (3)    Pending a final decision on a request to remove a trustee, or in lieu of or in addition to removing a trustee, the court may order appropriate relief under § 14.5–901(b) of this title as may be necessary to protect the trust property or the interests of the beneficiaries.
MD. Estates and Trusts Code Ann. §  14.5-707 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-707 - Duties of Trustee Following Resignation or Removal

    (a)    Unless a cotrustee remains in office or the court otherwise orders, and until the trust property is delivered to a successor trustee or other person entitled to the trust property, a trustee that has resigned or been removed has the duties of a trustee and the powers necessary to protect the trust property.    (b)    A trustee that has resigned or has been removed shall proceed expeditiously to deliver the trust property within the possession of the trustee to the cotrustee, successor trustee, or other person entitled to the trust property.
MD. Estates and Trusts Code Ann. §  14.5-709 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-709 - Reimbursement for Expenses; Advances

    (a)    A trustee is entitled to be reimbursed out of the trust property, with interest as appropriate, for:        (1)    Expenses that were properly incurred in the administration of the trust; and        (2)    To the extent necessary to prevent unjust enrichment of the trust, expenses that were not properly incurred in the administration of the trust.    (b)    An advance by the trustee of money for the protection of the trust gives rise to a lien against trust property to secure reimbursement with reasonable interest.
MD. Estates and Trusts Code Ann. §  14.5-710 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-710 - Trustees

    (a)    The following persons may exercise trust or fiduciary powers in this State:        (1)    An individual;        (2)    A trust company as defined in § 1–101 of this article;        (3)    An organization exempt from taxation under § 501(c) of the Internal Revenue Code of 1986, as amended; and        (4)    Subject to subsection (b) of this section, a bank, trust company, or savings bank, other than one described in item (2) of this subsection, that is:            (i)    Organized under the laws of another state and authorized to exercise trust or fiduciary powers in the state where the principal place of business of the institution is located; or            (ii)    Organized under the laws of the United States and authorized to exercise trust or fiduciary powers under federal law.    (b)    (1)    A bank, trust company, or savings bank described in subsection (a)(4) of this section may exercise trust or fiduciary powers in this State only if the laws of the state where its principal place of business is located authorize a bank, trust company, or savings bank from this State to exercise trust or fiduciary powers in that state.        (2)    A bank, trust company, or savings bank authorized to exercise trust powers under subsection (a)(4) of this section shall file with the Commissioner of Financial Regulation, before exercising trust powers in this State, information sufficient to identify:            (i)    The correct corporate name of the bank, trust company, or savings bank;            (ii)    An address and a telephone number of a contact person for the bank, trust company, or savings bank;            (iii)    A resident agent; and            (iv)    Additional information considered necessary by the Commissioner for protection of the public.
MD. Estates and Trusts Code Ann. §  14.5-711 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 7 - Office of Trustee|Section 14.5-711 - Judge, Clerk, Register of Wills Prohibited From Serving as Trustee; Exception

    A judge of a court established under the laws of the State or the United States or a clerk of court or register of wills, unless the judge, clerk, or register is the surviving spouse of the grantor of the trust, or is related to the grantor within the third degree, may not serve as a trustee of an inter vivos or testamentary trust created by an instrument and executed in the State by the grantor or a trustee, administered in the State, or governed by the laws of the State, unless the judge, clerk, or register was actually serving as a trustee of the trust on December 31, 1969.
MD. Estates and Trusts Code Ann. §  14.5-801 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-801 - Administration in General

    On acceptance of a trusteeship, the trustee shall administer the trust reasonably under the circumstances, in accordance with the terms and purposes of the trust and the interests of the beneficiaries, and in accordance with this title.
MD. Estates and Trusts Code Ann. §  14.5-803 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-803 - Two or More Beneficiaries

    If a trust has two or more beneficiaries, the trustee shall act impartially in investing, managing, and distributing the trust property, giving due regard to the respective interests of the beneficiaries.
MD. Estates and Trusts Code Ann. §  14.5-804 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-804 - Standard for Administration

    (a)    A trustee shall administer the trust as a prudent person would, by considering the purposes, terms, distributional requirements, and other circumstances of the trust.    (b)    In satisfying the standard described in subsection (a) of this section, the trustee shall exercise reasonable care, skill, and caution.
MD. Estates and Trusts Code Ann. §  14.5-805 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-805 - Incursion of Allowable Costs

    In administering a trust, the trustee may incur only costs that are reasonable in relation to the trust property, the purposes of the trust, and the skills of the trustee.
MD. Estates and Trusts Code Ann. §  14.5-806 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-806 - Trustee With Special Skills or Expertise

    A trustee that has special skills or expertise, or is named trustee in reliance on the representation of the trustee that the trustee has special skills or expertise, shall use those special skills or expertise.
MD. Estates and Trusts Code Ann. §  14.5-807 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-807 - Delegation of Duties and Powers

    (a)    (1)    A trustee may delegate duties and powers that a prudent trustee of comparable skills could properly delegate under the circumstances to an agent, even if the agent is associated with the trustee.        (2)    A trustee shall exercise reasonable care, skill, and caution in:            (i)    Selecting an agent;            (ii)    Establishing the scope and terms of the delegation, consistent with the purposes and terms of the trust; and            (iii)    Periodically reviewing the actions of the agent in order to monitor the performance of the agent and compliance with the terms of the delegation by the agent.    (b)    In performing a delegated function, an agent owes a duty to the trust to exercise reasonable care to comply with the terms of the delegation.    (c)    By accepting a delegation of powers or duties from the trustee of a trust that is subject to the laws of this State, an agent submits to the jurisdiction of the courts of this State.    (d)    This section does not apply to a delegation of investment duties or powers in accordance with § 15–114 of this article.
MD. Estates and Trusts Code Ann. §  14.5-809 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-809 - Control and Protection of Trust Property; Exception

    A trustee shall take reasonable steps to take control of and protect the trust property, except that this duty does not apply to, and the trustee is not responsible for, items of tangible personal property that are property of a trust that is revocable by the settlor and that are not in the possession or control of the trustee.
MD. Estates and Trusts Code Ann. §  14.5-810 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-810 - Records; Keeping Property Separate

    (a)    A trustee shall keep adequate records of the administration of the trust.    (b)    A trustee shall keep trust property separate from the property of the trustee.    (c)    Except as otherwise provided in subsection (d) of this section, a trustee shall cause the trust property to be designated so that the interest of the trust, to the extent feasible, appears in records maintained by a party other than a trustee or beneficiary.    (d)    If the trustee maintains records clearly indicating the respective interests, a trustee may invest as a whole the property of two or more separate trusts.
MD. Estates and Trusts Code Ann. §  14.5-811 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-811 - Enforcement, Defense, Abandonment or Assignment of Claims Against Trust

    (a)    A trustee shall take reasonable steps to enforce claims of the trust and to defend claims against the trust.    (b)    A trustee may abandon a claim that is unreasonable to enforce or assign the claim to one or more of the beneficiaries of the trust holding the claim.
MD. Estates and Trusts Code Ann. §  14.5-812 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-812 - Breach of Trust

    (a)    A trustee is not liable to the beneficiary for a breach of trust committed by a former trustee.    (b)    A trustee is liable to the beneficiary for a breach of trust if the trustee:        (1)    Knows or should know of a situation constituting a breach of trust committed by a former trustee and the trustee improperly permits it to continue;        (2)    Neglects to take reasonable steps to compel a former trustee or other person to deliver trust property to the trustee; or        (3)    Neglects to take reasonable steps to redress a breach of trust committed by a former trustee.
MD. Estates and Trusts Code Ann. §  14.5-815 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-815 - Powers of Trustee Without Authorization of Court

    (a)    A trustee, without authorization by the court, may exercise:        (1)    Powers conferred by the terms of the trust; or        (2)    Except as limited by the terms of the trust:            (i)    All powers over the trust property that an unmarried competent owner has over individually owned property;            (ii)    Other powers appropriate to achieve the proper investment, management, and distribution of the trust property; and            (iii)    Other powers conferred by this title or Title 15, Subtitle 6 of this article.    (b)    The exercise of a power described in subsection (a) of this section is subject to the fiduciary duties prescribed by this title.
MD. Estates and Trusts Code Ann. §  14.5-816 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-816 - Powers of Trustee in General

    (a)    A trustee has those powers enumerated in the trust instrument.    (b)    Without limiting the authority conferred by § 14.5–815 of this subtitle and § 15–102 of this article, a trustee may exercise the powers specified in this section.    (c)    With respect to possible liability for violation of environmental law, a trustee may:        (1)    Inspect or investigate property the trustee holds or has been asked to hold, or property owned or operated by an organization in which the trustee holds or has been asked to hold an interest, for the purpose of determining the application of environmental law with respect to the property;        (2)    Take action to prevent, abate, or otherwise remedy any actual or potential violation of any environmental law affecting property held directly or indirectly by the trustee, whether taken before or after the assertion of a claim or the initiation of governmental enforcement;        (3)    Decline to accept property into trust or disclaim a power with respect to property that is or may be burdened with liability for violation of environmental law;        (4)    Compromise claims against the trust which may be asserted for an alleged violation of environmental law; and        (5)    Pay the expense of an inspection, a review, an abatement, or a remedial action to comply with environmental law.    (d)    A trustee may donate a conservation easement on real property, or consent to the donation of a conservation easement on real property by a personal representative of an estate of which the trustee is a legatee, in order to obtain the benefit of the estate tax exclusion allowed under § 2031(c) of the Internal Revenue Code of 1986, as amended, if:        (1)    The governing instrument authorizes or directs the donation of a conservation easement on the real property; or        (2)    Each beneficiary that has an interest in the real property that would be affected by the conservation easement consents in writing to the donation.
MD. Estates and Trusts Code Ann. §  14.5-817 (2021)
2021 Maryland Statutes|Estates and Trusts|Title 14.5 - Maryland Trust Act|Subtitle 8 - Duties and Powers of Trustee|Section 14.5-817 - Distribution on Termination or Partial Termination of Trust

    (a)    (1)    On termination or partial termination of a trust, the trustee may send to the beneficiaries a proposal for distribution.        (2)    The right of a beneficiary to object to a proposed distribution under paragraph (1) of this subsection terminates if the beneficiary does not notify the trustee of an objection within 60 days after the proposal was sent but only if the proposal informed the beneficiary of the right to object and of the time allowed for objection.    (b)    On the occurrence of an event terminating or partially terminating a trust, the trustee shall proceed expeditiously to distribute the trust property to the persons entitled to the trust property, subject to the right of the trustee to retain a reasonable reserve for the payment of debts, expenses, and taxes.
MD. Estates and Trusts Code Ann. §  14.5-901 (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 14.5-901 - Breach of Trust

    (a)    (1)    A violation by a trustee of a duty the trustee owes to a beneficiary is a breach of trust.        (2)    A breach of trust under this subsection may occur by reason of an action or by reason of a failure to act.    (b)    To remedy a breach of trust by the trustee that has occurred or may occur, the court may:        (1)    Compel the trustee to perform the duties of the trustee;        (2)    Enjoin the trustee from committing a breach of trust;        (3)    Compel the trustee to redress a breach of trust by paying money, restoring property, or other means;        (4)    Order a trustee to account;        (5)    Appoint a special fiduciary to take possession of the trust property and administer the trust;        (6)    Suspend the trustee;        (7)    Remove the trustee as provided in § 14.5–706 of this title;        (8)    Reduce or deny compensation to the trustee;        (9)    Subject to § 14.5–909 of this subtitle, void an act of the trustee, impose a lien or a constructive trust on trust property, or trace trust property wrongfully disposed of and recover the property or proceeds from the property; or        (10)    Order other appropriate relief.