§ 15-113. Joint and several liability of trust company affiliates

MD Est & Trusts Code § 15-113 (2019) (N/A)
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An entity that controls, is controlled by, or is under common control with a trust company shall be jointly and severally liable for claims against the trust company when the trust company is acting as a trustee of bond indentures or similar debt issuances, if the trust company:

(1)    May exercise trust or fiduciary powers in the State; and

(2)    Meets the qualifications under 12 U.S.C. § 1841(c)(2)(D).