Section 19-401 - Definitions(a) In this subtitle the following words have the meanings indicated.(b) "Beneficial owner" means a person for whose benefit a boat broker is entrusted to hold money.(c) "Boat" means any vessel that is propelled by sail or machinery in the water.(d) "Boat broker" means a person who provides boat brokerage services for another person.(e) "Boat broker trust account" means an account that a broker maintains at a financial institution for the deposit of trust money.(f) "Boat brokerage services" means to engage in any of the following activities for an expectation of compensation:(1) selling a boat, offering to sell a boat, or negotiating to sell a boat;(2) buying a boat, offering to buy a boat, or negotiating to buy a boat;(3) soliciting or obtaining a listing of a boat; or(4) negotiating the purchase, sale, or exchange of a boat.(g) "Trust money" means a deposit, payment, or other money that a person entrusts to a boat broker to hold for the benefit of the person or a beneficial owner.