Md. Code, Bus. Occ. & Prof. § 17-503

Current with changes from the 2024 Legislative Session

Section 17-503 - Authorized financial institutions

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.

Md. Code, BOP § 17-503