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Marginalia
Code · Maryland · Business Regulation

§ 19-402

77 words·~1 min read·/md/business-regulation/19-402

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§19–402.
(a)A boat broker shall place any trust moneys received in anticipation of a boat purchase into a boat broker trust account until the boat broker:
(1)disburses the trust moneys to the beneficial owner on completion of the boat purchase; or
(2)returns the trust moneys to the purchaser if the boat purchase is not completed.
(b)A boat broker trust account established under this section shall be separate from the boat broker’s operating account.
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