Md. Code, State Pers. & Pens. § 21-205

Current with changes from the 2024 Legislative Session
Section 21-205 - Prohibited transactions involving system assets

In exercising authority, control, or discretion with respect to the several systems, a fiduciary may not:

(1) use the assets of the several systems for the fiduciarys own interest or account;
(2) act in a transaction involving the several systems on behalf of a person, or represent a person, if the interests of the person are adverse to the interests of the several systems or the interests of participants;
(3) receive any consideration for the fiduciarys own account from a person dealing with the several systems in connection with a transaction involving the assets of the several systems; or
(4) become an endorser or surety or, in any manner, an obligor, for money lent to or borrowed from the Board of Trustees.

Md. Code, SPP § 21-205