(a) A trust company may register in the name of a nominee any assets of a common trust fund that it administers. (b) The nominee may be either an individual or a partnership. (c) A trust company that registers assets in the name of a nominee shall: (1) Show the assets and the name of the nominee on its records; and (2) If the nominee is operated or controlled by the trust company, supervise any possession or control of the assets by the nominee. (d) A transfer agent or registrar of a corporation whose stocks, bonds, securities, or other obligations are registered in the name of a nominee under this section is not required to investigate and may not be held liable for treating the nominee as the owner of the assets.
Maryland Legal Code