Maryland Code, STATE PERSONNEL AND PENSIONS 21-206
Terms Used In Maryland Code, STATE PERSONNEL AND PENSIONS 21-206
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
- Fiduciary: A trustee, executor, or administrator.
- including: means includes or including by way of illustration and not by way of limitation. See
(1) is personally liable to the several systems for any losses to the several systems resulting from a breach;
(2) shall restore to the several systems any profits of the fiduciary made through use of assets of the several systems by the fiduciary; and
(3) is subject to any equitable or remedial relief, including removal of the fiduciary, that a court considers appropriate.
(b) A fiduciary is not liable with respect to a breach of fiduciary duty under this subtitle if the breach was committed:
(1) before the fiduciary became a fiduciary; or
(2) after the fiduciary ceased to be a fiduciary.