The Honorable Thomas V. Mike Miller, Jr.
President of the Senate
Annapolis MD 21401
Dear Mr. President:
In accordance with Article II, Section 17 of the Maryland Constitution, I have today vetoed Senate Bill 585 - Estates and Trusts - Corporate Fiduciaries and Successor Corporate Fiduciaries - Qualifications and Liabilities.
This bill allows a corporate fiduciary to include the capital and surplus of its parent corporation for the purpose of qualifying as a fiduciary. The bill also provides for the appointment of a new fiduciary if there is a complaint regarding the qualification of the successor fiduciary under certain circumstances.
House Bill 574, which was passed by the General Assembly and signed by me, accomplishes the same purpose. Therefore, it is not necessary for me to sign Senate Bill 585.
Parris N. Glendening