Md. Code, Financial Institutions § 5-615
This is the official text of Md. Code, Financial Institutions § 5-615, part of Maryland’s Code, Financial Institutions — regulates banks and lenders.
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§5–615.
Official statutory text
In the distribution of the general assets of a trust company that is liquidated or reorganized, the person who succeeds the trust company as a personal representative, guardian, trustee, receiver, or other fiduciary has a preference for all debts and accounts that are due to or held by it as fiduciary over all other debts and liabilities, including salaries and wages of employees.
Status: in_force · Read it on the official government site
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