§ 17-503
71 words·~1 min read·
/md/business-occupations-and-professions/17-503·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§17–503.
Except as authorized under § 17-505 of this subtitle, a real estate broker shall deposit all trust money in a financial institution that is located in the State and whose deposits are insured by:
(1)the Federal Deposit Insurance Corporation;
(2)the Federal Savings and Loan Insurance Corporation;
(3)the National Credit Union Administration;
(4)the State of Maryland Deposit Insurance Fund Corporation; or
(5)the Credit Union Insurance Corporation.