Md. Code, State Personnel and Pensions § 21-206
This is the official text of Md. Code, State Personnel and Pensions § 21-206, part of Maryland’s Code, State Personnel and Pensions — governs state employees and public pensions.
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§21–206.
Official statutory text
(a) Subject to § 21-207 of this subtitle, a fiduciary who breaches any of the responsibilities, obligations, or duties imposed on a fiduciary by this subtitle:
(1) is personally liable to the several systems for any losses to the several systems resulting from a breach;
(2) shall restore to the several systems any profits of the fiduciary made through use of assets of the several systems by the fiduciary; and
(3) is subject to any equitable or remedial relief, including removal of the fiduciary, that a court considers appropriate.
(b) A fiduciary is not liable with respect to a breach of fiduciary duty under this subtitle if the breach was committed:
(1) before the fiduciary became a fiduciary; or
(2) after the fiduciary ceased to be a fiduciary.
(1) is personally liable to the several systems for any losses to the several systems resulting from a breach;
(2) shall restore to the several systems any profits of the fiduciary made through use of assets of the several systems by the fiduciary; and
(3) is subject to any equitable or remedial relief, including removal of the fiduciary, that a court considers appropriate.
(b) A fiduciary is not liable with respect to a breach of fiduciary duty under this subtitle if the breach was committed:
(1) before the fiduciary became a fiduciary; or
(2) after the fiduciary ceased to be a fiduciary.
Status: in_force · Read it on the official government site
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