(a) In this subtitle the following words have the meanings indicated. (b) “Bank” has the meaning stated in 12 U.S.C. § 1841(c). (c) “Bank holding company” has the meaning stated in 12 U.S.C. § 1841(a). (d) (1) “Beneficiary” means a person who receives or is entitled as a matter of right to receive a current distribution of principal or income […]
(a) Subject to the provisions of § 15-1A-04(d)(2) of this subtitle, a successor fiduciary shall be substituted as a fiduciary for its predecessor corporate fiduciary, immediately upon the adoption of a corporate resolution by both the successor fiduciary and the predecessor corporate fiduciary providing for the substitution. (b) A successor fiduciary shall have all the rights, powers, […]
(a) For purposes of qualifying as a fiduciary with respect to a capital requirement, a corporate fiduciary may attribute to its capital and surplus the capital and surplus of any: (1) Bank, trust company, or bank holding company of which it is a direct or indirect subsidiary or affiliate; or (2) Corporation with its principal office in this […]
(a) When a successor fiduciary is substituted under this subtitle, the successor fiduciary shall send notice to the following persons at the person’s last known address: (1) Each cofiduciary of the successor fiduciary; (2) Each surviving settlor of a trust; (3) Each person who, alone or in conjunction with others, has the power to remove any corporate fiduciary; and […]
In addition to the provisions for removal under § 15-1A-04(d) of this subtitle, removal of a corporate fiduciary is subject to all other laws of this State affecting removal of fiduciaries and to any agreement that designates the predecessor corporate fiduciary as the corporate fiduciary of the trust, estate, or fund.
