(a) In this subtitle the following words have the meanings indicated. (b) “Bank” includes any person or association of persons, whether incorporated or not, carrying on the business of banking. (c) “Fiduciary” includes a trustee under any trust expressed, implied, resulting or constructive, executor, administrator, guardian, conservator, curator, receiver, trustee in bankruptcy, assignee for the benefit of creditors, […]
(a) A person who in good faith pays or transfers to a fiduciary any money or other property which the fiduciary is authorized to receive, is not responsible for the proper application of the money or property by the fiduciary. (b) A right or title to money or other property acquired from a fiduciary in consideration of […]
(a) Except as provided in subsection (b) of this section, if any negotiable instrument payable or indorsed to a fiduciary is indorsed by the fiduciary, or if any negotiable instrument payable or indorsed to the fiduciary’s principal is indorsed by a fiduciary empowered to indorse the instrument on behalf of the principal, the indorsee is not […]
(a) Except as provided in subsection (b) of this section, if a check or other bill of exchange is drawn by a fiduciary or in the name of the fiduciary’s principal by a fiduciary empowered to draw the instrument in the name of the principal, the payee is not bound to inquire whether the fiduciary is […]
If a check or other bill of exchange is drawn by a fiduciary or in the name of the fiduciary’s principal by a fiduciary empowered to draw the instrument in the name of the principal, payable to the fiduciary personally, or payable to a third person and transferred by the third person to the fiduciary, […]
(a) Except as provided in subsection (b) of this section, if a deposit is made in a bank to the credit of a fiduciary, the bank is authorized to pay the amount of the deposit or any part of it on the check of the fiduciary, signed with the name in which the deposit is entered, […]
(a) Except as provided in subsection (b) of this section, if a check is drawn on the bank account of the principal of a fiduciary by a fiduciary who is empowered to draw checks on the account of the principal, the bank is authorized to pay the check without being liable to the principal, unless the […]
(a) This section applies if a fiduciary makes a deposit in a bank to the fiduciary’s personal credit of: (1) Checks drawn by the fiduciary on an account in the name of the fiduciary as fiduciary; (2) Checks payable to the fiduciary as fiduciary; (3) Checks drawn by the fiduciary on an account in the name of the fiduciary’s […]
In any case not provided for in this subtitle the rules of law and equity, including the law merchant and those rules of law and equity relating to trusts, agency, negotiable instruments, and banking, shall continue to apply.
The Maryland Uniform Fiduciaries Act shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which adopt it.
This subtitle may be cited as the Maryland Uniform Fiduciaries Act.
