Maryland Code, ESTATES AND TRUSTS 14.5-301
Terms Used In Maryland Code, ESTATES AND TRUSTS 14.5-301
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- Trustee: A person or institution holding and administering property in trust.
(b) The consent of a person that is authorized to represent and bind another person under this subtitle is binding on the person represented unless the person represented objects to the representation by notifying the trustee and the representative before the consent would otherwise have become effective.
(c) Except as otherwise provided in § 14.5-602 of this title, a person that under this subtitle is authorized to represent a settlor that lacks capacity may receive notice and give a binding consent on behalf of the settlor.
(d) A representative may act on behalf of the individual represented with respect to a matter arising under this title, whether or not a judicial proceeding concerning the trust is pending.
(e) In making decisions as a representative of an individual, the representative may consider the general benefit accruing to the living members of the family of the individual.