Section 15-617 – Construction With Federal Electronic Signatures in Global and National Commerce Act
This subtitle modifies, limits, or supersedes the Electronic Signatures in Global and National Commerce Act, 15 U.S.C. § 7001 et seq., but does not modify, limit, or supersede Section 101(c) of that Act, 15 U.S.C. § 7001(c), or authorize electronic delivery of the notices described in Section 103(b) of that Act, 15 U.S.C. § 7003(b).
Section 15-618 – Applicability
This subtitle applies to: (1) A fiduciary acting under a will or power of attorney executed before, on, or after October 1, 2016; (2) A personal representative acting for a decedent who died before, on, or after October 1, 2016; (3) A guardianship proceeding, whether pending in a court or commenced before, on, or after October 1, 2016; […]
Section 15-619 – Severability
If a provision of this subtitle or its application to a person or circumstances is held invalid, the invalidity does not affect other provisions or applications of this subtitle that can be given effect without the invalid provision or application, and to this end the provisions of this subtitle are severable.
Section 15-620 – Short Title
This subtitle may be cited as the Maryland Fiduciary Access to Digital Assets Act.
Section 16-102 – Registration in Beneficiary Form — Sole or Joint Tenancy Ownership
(a) Only individuals whose registration of a security shows sole ownership by one individual or multiple ownership by two or more with right of survivorship, rather than as tenants in common, may obtain registration in beneficiary form. (b) Multiple owners of a security registered in beneficiary form hold as joint tenants with right of survivorship, as tenants […]
Section 16-103 – Registration in Beneficiary Form — Applicable Law
(a) A security may be registered in beneficiary form if the form is authorized by this or a similar statute of the state of organization of the issuer or registering entity, the location of the registering entity’s principal office, the office of its transfer agent or its office making the registration, or by this or a […]
Section 16-104 – Registration in Beneficiary Form — Origination
A security, whether evidenced by certificate or account, is registered in beneficiary form when the registration includes a designation of a beneficiary to take the ownership at the death of the owner or the deaths of all multiple owners.
Section 16-105 – Registration in Beneficiary Form — Form
Registration in beneficiary form may be shown by the words “transfer-on-death” or the abbreviation “TOD”, or by the words “pay on death” or the abbreviation “POD”, after the name of the registered owner and before the name of a beneficiary.
Section 16-106 – Registration in Beneficiary Form — Effect
(a) The designation of a TOD beneficiary on a registration in beneficiary form has no effect on ownership until the owner’s death. (b) A registration of a security in beneficiary form may be canceled or changed at any time by the sole owner or all then surviving owners without the consent of the beneficiary.
Section 15-523 – Disbursements From Income
A trustee shall make the following disbursements from income to the extent that they are not disbursements to which § 15–503(c)(2) or (3) of this subtitle apply: (1) Regular compensation of the trustee on income, if determined in accordance with § 14.5–708(b) of this article; (2) That portion of the regular compensation of the trustee, if the […]