§ 3-207

Maryland § 3-207

• Jurisdiction: Maryland
• Article gfi: Financial Institutions
• Title: 3

Text

In addition to the powers set forth elsewhere in this article, a trust company may:

(1) Receive deposits of money, securities, and other personal property from any person;

(2) Act as the agent of any foreign or Maryland corporation for any lawful purpose;

(3) Act as the fiscal or transfer agent of any state, any political subdivision of any state, or any corporation;

(4) Accept and execute any trust and any powers that are conferred on or entrusted to it in any manner, including any grant, assignment, transfer, devise, or bequest by any person or by order of a court;

(5) Accept and hold trust property;

(6) Act as trustee under a mortgage or bond issue of a corporation or political subdivision;

(7) Act as personal representative of the estate of any deceased individual; and

(8) Act as guardian, receiver, or trustee of the estate of any person under order or appointment of a court and as depositary of money paid to the court for the benefit of the person.