Section 18-1908 - Bonding of fiduciary.
§ 18-1908. Bonding of fiduciary.
(a) Bond purchase.- The Board shall purchase a bond for each fiduciary in accordance with Title 9, Subtitle 17 of the State Government Article.
(b) Required.- Unless a fiduciary is bonded, the fiduciary may not exercise custody or control of any assets of the Trust.
(c) Other fiduciaries.- A fiduciary may not allow another fiduciary to act in violation of this section.
[1997, ch. 31, § 10; chs. 110, 111; 2003, chs. 381, 382.]