Maryland Code, BUSINESS REGULATION 6.5-102
Terms Used In Maryland Code, BUSINESS REGULATION 6.5-102
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
- Fiduciary: A trustee, executor, or administrator.
- including: means includes or including by way of illustration and not by way of limitation. See
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Subpoena: A command to a witness to appear and give testimony.
(1) enforce the application of a charitable asset in accordance with:
(i) the law and terms governing the use, management, investment, distribution, and expenditure of the charitable asset; and
(ii) the charitable purpose of the person holding the charitable asset;
(2) act to prevent or remedy:
(i) the misapplication, diversion, or waste of a charitable asset; or
(ii) a breach of fiduciary or other legal duty in the governance, management, or administration of a charitable asset; and
(3) commence or intervene in an action to:
(i) prevent, remedy, or obtain damages for:
1. the misapplication, diversion, or waste of a charitable asset; or
2. a breach of fiduciary or other legal duty in the governance, management, or administration of a charitable asset;
(ii) enforce this title; or
(iii) determine that an asset is a charitable asset.
(b) If the Attorney General has reason to believe an investigation is necessary to determine whether action may be advisable under this section, the Attorney General may conduct an investigation, including exercising subpoena power.