Section 13-406 – Petition to Court for Withdrawal
(a) A trustee shall file a petition for withdrawal of any of the money of the minor in the original court action or in the equity court in the county where the money is on deposit. (b) (1) The petition shall be verified and state in detail the purposes for which the withdrawal of the money is desired. […]
Section 13-407 – Trustee Not Required to File Accounts
The trustee provided for in this subtitle need not file any accounts of trusteeship with any court.
Section 13-501 – Payment or Delivery of Money or Chattels
(a) (1) Any person, including but not limited to a personal representative or trustee, who is under a duty to pay or deliver money or tangible personal property to a minor may perform the duty by paying or delivering the money or chattel to the guardian of the minor. (2) If there is no guardian, or if the […]
Section 13-502 – Deposit of Money Distributable From Trust, Estate, or Other Source
(a) If money is distributable from a trust or estate or from any other source to a minor and there is no legally appointed guardian of the property of the minor, the circuit court of the county in which the minor resides or the court in which the estate is being administered may order that the […]
Section 13-503 – Powers Exercisable Directly by Minors
(a) (1) A minor who holds title to property as a tenant by the entirety with a spouse who has reached the age of majority is authorized to join with the spouse in any deed as defined in § 1–101 of the Real Property Article, note, or financing statement in the same manner and effect as an […]
Section 13-504 – Release of Financial Institution
The receipt or acquittance of any minor who is the sole owner of or is a party to any account with the right to withdraw funds in a financial institution, as defined in § 13-301(h) of this title is a valid and sufficient release and discharge of the institution for any payment to the minor […]
Section 13-602 – Purposes of Subtitle
The purposes of this subtitle are to: (1) Establish a separate and distinct civil cause of action by a victim, or a representative of the victim, of financial exploitation; (2) Provide a path to redress financial exploitation through the recovery of property and assets taken from victims while discouraging protracted litigation; (3) Provide access to justice for victims […]
Section 13-305 – Irrevocable Transfer by Personal Representative or Trustee
(a) A personal representative or trustee may make an irrevocable transfer pursuant to § 13-309 of this subtitle to a custodian for the benefit of a minor as authorized in the governing will or trust. (b) If the testator or settlor has nominated a custodian under § 13-303 of this subtitle to receive the custodial property, the […]
Section 13-321 – Applicability of Subtitle
This subtitle applies to a transfer within the scope of § 13-302 of this subtitle made on or after July 1, 1989 if: (1) The transfer purports to have been made under the Maryland Uniform Gifts to Minors Act; or (2) The instrument by which the transfer purports to have been made uses in substance the designation […]
Section 13-306 – Irrevocable Transfer by Personal Representative or Trustee — in Absence of Express Authority
(a) Subject to subsection (c) of this section, a personal representative or trustee may make an irrevocable transfer to another adult or trust company as custodian for the benefit of a minor pursuant to § 13-309 of this subtitle, in the absence of a will or under a will or trust that does not contain an […]