(a) In this section, “investment company” means a corporation registered under the Investment Company Act of 1940.
(b) Unless otherwise provided in the charter of an investment company, if authorized by its board of directors, shares of any class or series of its stock acquired by an investment company using assets allocated to any other class or series of stock of the investment company may be held by the investment company in a fiduciary capacity for the benefit of the holders of shares of the other class or series of stock, and the investment company may exercise voting rights, receive distributions, and be allocated other rights to the extent determined by its board of directors.
Structure Maryland Statutes
Title 2 - Corporations in General -- Formation, Organization, and Operation
Subtitle 3 - Capital Accounts, Dividends, and Retirement of Shares
Section 2-302 - Capital Account
Section 2-303 - Determination of Amount of Stated Capital and Capital Surplus
Section 2-304 - Application of Capital Surplus
Section 2-305 - Expenses of Organization, Reorganization, and Financing
Section 2-306 - Reduction of Stated Capital
Section 2-308 - Surplus Considered Capital Surplus
Section 2-309 - Distributions; Stock Dividends and Stock Splits
Section 2-310 - Acquisition of Own Stock -- in General
Section 2-310.1 - Redemption of Own Stock -- Open-End Investment Companies
Section 2-310.2 - Shares Held in Fiduciary Capacity for Benefit of Other Class of Shares
Section 2-311 - Restrictions on Making Distributions