Md. Code, State Personnel and Pensions § 21-205
This is the official text of Md. Code, State Personnel and Pensions § 21-205, part of Maryland’s Code, State Personnel and Pensions — governs state employees and public pensions.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§21–205.
Official statutory text
In exercising authority, control, or discretion with respect to the several systems, a fiduciary may not:
(1) use the assets of the several systems for the fiduciary's own interest or account;
(2) act in a transaction involving the several systems on behalf of a person, or represent a person, if the interests of the person are adverse to the interests of the several systems or the interests of participants;
(3) receive any consideration for the fiduciary's own account from a person dealing with the several systems in connection with a transaction involving the assets of the several systems; or
(4) become an endorser or surety or, in any manner, an obligor, for money lent to or borrowed from the Board of Trustees.
(1) use the assets of the several systems for the fiduciary's own interest or account;
(2) act in a transaction involving the several systems on behalf of a person, or represent a person, if the interests of the person are adverse to the interests of the several systems or the interests of participants;
(3) receive any consideration for the fiduciary's own account from a person dealing with the several systems in connection with a transaction involving the assets of the several systems; or
(4) become an endorser or surety or, in any manner, an obligor, for money lent to or borrowed from the Board of Trustees.
Status: in_force · Read it on the official government site
Need a lawyer in Maryland?
Find a Maryland lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.