Maryland Code, ESTATES AND TRUSTS 15-302
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Terms Used In Maryland Code, ESTATES AND TRUSTS 15-302
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Fiduciary: A trustee, executor, or administrator.
- 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 corporation or transfer agent registering a security in the name of a person who is a fiduciary or who is described as a fiduciary:
(1) Is not bound to inquire into the existence, extent, or correct description of the fiduciary relationship; and
(2) May assume without inquiry that the newly registered owner continues to be the fiduciary until the corporation or transfer agent receives written notice that the fiduciary is no longer acting as the fiduciary with respect to the particular security.