Maryland Statutes
Subtitle 5 - Common Trust Funds
Section 3-518 - Registration of Assets in Name of Nominee

(a)    A trust company may register in the name of a nominee any assets of a common trust fund that it administers.
    (b)    The nominee may be either an individual or a partnership.
    (c)    A trust company that registers assets in the name of a nominee shall:
        (1)    Show the assets and the name of the nominee on its records; and
        (2)    If the nominee is operated or controlled by the trust company, supervise any possession or control of the assets by the nominee.
    (d)    A transfer agent or registrar of a corporation whose stocks, bonds, securities, or other obligations are registered in the name of a nominee under this section is not required to investigate and may not be held liable for treating the nominee as the owner of the assets.

Structure Maryland Statutes