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Maryland Code, Business Regulation § 6.5-102

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) The Attorney General shall represent the public interest in the protection of charitable assets and may:

(1) enforce the application of a charitable asset in accordance with:

(i) the law and terms governing the use, management, investment, distribution, and expenditure of the charitable asset; and

(ii) the charitable purpose of the person holding the charitable asset;

(2) act to prevent or remedy:

(i) the misapplication, diversion, or waste of a charitable asset; or

(ii) a breach of fiduciary or other legal duty in the governance, management, or administration of a charitable asset; and

(3) commence or intervene in an action to:

(i) prevent, remedy, or obtain damages for:

1. the misapplication, diversion, or waste of a charitable asset; or

2. a breach of fiduciary or other legal duty in the governance, management, or administration of a charitable asset;

(ii) enforce this title; or

(iii) determine that an asset is a charitable asset.

(b) If the Attorney General has reason to believe an investigation is necessary to determine whether action may be advisable under this section, the Attorney General may conduct an investigation, including exercising subpoena power.

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Cite this article: FindLaw.com - Maryland Code, Business Regulation § 6.5-102 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-regulation/md-code-bus-reg-sect-6-5-102/

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