Maryland Code, GENERAL PROVISIONS 4-314
Terms Used In Maryland Code, GENERAL PROVISIONS 4-314
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- 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
(1) the name of an account holder or a qualified beneficiary of a prepaid contract under Title 18, Subtitle 19 of the Education Article; or
(2) the name of an account holder or a qualified designated beneficiary of an investment account under Title 18, Subtitle 19A of the Education Article.
(b) A custodian:
(1) shall allow inspection by a person in interest; and
(2) may release information to an eligible institution of higher education designated:
(i) by an account holder of a prepaid contract or a qualified beneficiary under Title 18, Subtitle 19 of the Education Article; or
(ii) by an account holder or a qualified designated beneficiary under Title 18, Subtitle 19A of the Education Article.