Md. Code, Financial Institutions § 3-513
This is the official text of Md. Code, Financial Institutions § 3-513, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§3–513.
Official statutory text
(a) Entry into and withdrawal from participation in a common trust fund may occur only on a valuation date, or, if provided by the plan, within 2 business days after a valuation date.
(b) Participation shall be based on the valuation as of the valuation date associated with the entry or withdrawal.
(c) When participation is withdrawn from a common trust fund, the trust company may make distribution in cash, ratably in kind, or both, but all distributions associated with a valuation date shall be made in the same way.
(b) Participation shall be based on the valuation as of the valuation date associated with the entry or withdrawal.
(c) When participation is withdrawn from a common trust fund, the trust company may make distribution in cash, ratably in kind, or both, but all distributions associated with a valuation date shall be made in the same way.
Status: in_force · Read it on the official government site
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