§ 12-901. Law governing

Latest version.

   (a) Law of organizational state. -- Subject to the Maryland Constitution:

   (1) The laws of the jurisdiction under which a foreign statutory trust is formed govern its organization, internal affairs, and the liability of its trustees; and

   (2) A foreign statutory trust may not be denied registration by reason of any difference between the laws under which the foreign statutory trust is formed and the laws of this State.

(b) Doing business. -- A foreign statutory trust may not do any kind of intrastate, interstate, or foreign business in this State which the laws of this State prohibit a domestic statutory trust from doing.

HISTORY: 2010, ch. 611, § 1.

                    
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