Maryland Statutes
Subtitle 3 - Beneficial Owners
Section 12-304 - Indemnification

(a)    Except as provided in its governing instrument, a statutory trust shall have the power to:
        (1)    Indemnify and hold harmless, and to obligate itself to indemnify and hold harmless, any beneficial owner from and against any and all claims and demands whatsoever; and
        (2)    Pay or reimburse in advance of final disposition of a proceeding, as defined in § 2–418 of this article, any expenses incurred in connection with the proceeding.
    (b)    The absence of a provision for indemnity in the governing instrument of a statutory trust may not be construed to deprive a beneficial owner of any right to indemnity that is otherwise available to the beneficial owner under the laws of the State.

Structure Maryland Statutes