S.B. 442

VETOES

assets in accordance with the Prudent Investor Rule and would provide guidelines and
standards for judging the fiduciary's investments.

House Bill 825, which was passed by the General Assembly and signed by me on May 26,
1994, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate
Bill 442.

Sincerely,

William Donald Schaefer

Governor

Senate Bill No. 442                                 

AN ACT concerning

Estates and Trusts - Fiduciaries - Prudent Investor Rule

FOR the purpose of establishing a prudent investor standard in this State to govern the
actions of certain fiduciaries under certain circumstances; establishing- guidelines
for the investment and management of assets as a prudent investor; establishing
factors to be considered in determining whether certain fiduciaries have acted
properly; defining certain terms; providing for the application of this Act; and
generally relating to the conduct of certain fiduciaries under a prudent investor
standard.

BY adding to                                                                                         

Article - Estates and Trusts

Section 15-101(k) and 15-114                                 

Annotated Code of Maryland
(1991 Replacement Volume and 1993 Supplement)

BY repealing and reenacting, with amendments,
Article - Estates and Trusts
Section 13-312(b)
Annotated Code of Maryland
(1991 Replacement Volume and 1993 Supplement)                                     

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Estates and Trusts

15-101.

(K) "TRUST COMPANY" HAS THE MEANING STATED IN § 1-101 OF THIS
ARTICLE.

15-114.

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