Learn About The Law
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Current as of January 01, 2025 | Updated by Findlaw Staff
(a) Subject to § 21-207 of this subtitle, a fiduciary who breaches any of the responsibilities, obligations, or duties imposed on a fiduciary by this subtitle:
(1) is personally liable to the several systems for any losses to the several systems resulting from a breach;
(2) shall restore to the several systems any profits of the fiduciary made through use of assets of the several systems by the fiduciary; and
(3) is subject to any equitable or remedial relief, including removal of the fiduciary, that a court considers appropriate.
(b) A fiduciary is not liable with respect to a breach of fiduciary duty under this subtitle if the breach was committed:
(1) before the fiduciary became a fiduciary; or
(2) after the fiduciary ceased to be a fiduciary.
Cite this article: FindLaw.com - Maryland Code, State Personnel and Pensions § 21-206 - last updated January 01, 2025 | https://codes.findlaw.com/md/state-personnel-and-pensions/md-code-st-pers-and-pens-sect-21-206/
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.
Get help with your legal needs
FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.
Search our directory by legal issue
Enter information in one or both fields (Required)