Senate Bill 148 (Chapter 170) signed April 26 and effective October 1 clarifies the duties of directors of and clarifies the immunity from liability of a director of a corporation or a trustee in a real estate investment trust (REIT). Except as otherwise specified in the declaration of trust, the bill also extends the duties and immunity from liability of a director of a corporation to a trustee in a REIT.

Maryland – Clarifies the Duties of Directors of and Clarifies the Immunity from Liability of a Director of a Corporation or a Trustee in a Real Estate Investment Trust (REIT)
Tagged on: