Maryland Code, ESTATES AND TRUSTS 14-620

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Terms Used In Maryland Code, ESTATES AND TRUSTS 14-620

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

(a) The decanting power may be exercised for a trust established under § 14.5-407 of this article to the same extent that the decanting power could be exercised if each animal benefitting from the trust were a person.

(b) Notwithstanding any other provision of this title, in an exercise of the decanting power under this section, the second trust must provide that trust property may be applied only to its intended purpose for the period the first trust benefitted the animal.

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