§ 5-712
249 words·~1 min read·
/md/business-regulation/5-712A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§5–712.
(a)A seller may not fail to deposit, as required by this subtitle, money received under or in connection with a preneed burial contract.
(1)Except as otherwise provided in subsection
(c)of this section, a person who violates this section is guilty of a misdemeanor and, on conviction, is subject to:
(i)for a first violation, a fine not exceeding $10,000 or imprisonment not exceeding 1 year or both;
(ii)for a second violation, a fine not exceeding $15,000 or imprisonment not exceeding 2 years or both; and
(iii)for a third or subsequent violation, a fine not exceeding $20,000 or imprisonment not exceeding 3 years or both.
(2)Except as otherwise provided in subsection
(c)of this section, if a corporation violates this section, each officer responsible for the violation is guilty of a misdemeanor and, on conviction, is subject to:
(i)for a first violation, a fine not exceeding $10,000 or imprisonment not exceeding 1 year or both;
(ii)for a second violation, a fine not exceeding $15,000 or imprisonment not exceeding 2 years or both; and
(iii)for a third or subsequent violation, a fine not exceeding $20,000 or imprisonment not exceeding 3 years or both.
(c)A person who willfully misappropriates or intentionally and fraudulently converts preneed trust funds in excess of $100 to that person’s own use is guilty of a felony and, on conviction, is subject to a fine not exceeding $25,000 or imprisonment not exceeding 10 years or both.