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This entry was published on 2014-09-22
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General Business (GBS) CHAPTER 20, ARTICLE 23-B
§ 359-i. Definitions. 1. In this article unless the context or subject
matter otherwise requires:

"Bank" includes any person or association of persons, whether
incorporated or not, carrying on the business of banking.

"Fiduciary" includes a trustee under any trust, expressed, implied,
resulting or constructive, executor, administrator, guardian,
conservator, curator, committee, receiver, trustee in bankruptcy,
assignee for the benefit of creditors, partner, agent, officer of a
corporation, public or private, public officer, or any other person
acting in a fiduciary capacity for any person, trust or estate.

"Person" includes a corporation, partnership, or other association, or
two or more persons having a joint or common interest.

"Principal" includes any person to whom a fiduciary as such owes an

2. An act is done "in good faith" when it is done in fact honestly,
whether it be done negligently or not.