Except as provided in § 3-507 of this subtitle, a fund plan shall state the name of the fund and include detailed provisions, not inconsistent with this subtitle, as to: (1) The intervals at which the trust company will determine the value of the assets in the fund; (2) The intervals at which the trust company will have an audit made of the fund; (3) The manner in which the fund is to be operated; (4) The investment powers of the trust company with respect to the fund; (5) The terms and conditions that govern entry in and withdrawal from the fund; (6) The auditing and settling of accounts of the trust company with respect to the fund; (7) The basis and method to be used for valuing fund assets; (8) The circumstances and manner in which the fund may be terminated; and (9) Any other matters that are necessary to define clearly the rights and duties of the trust company and fund participants.
Maryland Legal Code