Md. Code Ann., Est. & Trusts § 15-105
Redline — January 1, 2019 → current.View current text →
Current — January 1, 2020
As of January 1, 2019
(a) Any fiduciary, or party of whom a bond, undertaking or other obligation is required, may agree or arrange with his surety for a general or a special deposit for safekeeping of any money, assets and other property, for which he 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 his bond is filed.
(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) The 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.
(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.
Official source: Maryland General Assembly. Reproduced from public-domain Maryland statutes; confirm against the official source for the current text. Not legal advice.