Md. Code Ann., Bus. Occ. & Prof. § 17-503
Financial institutions eligible for deposits of trust money
Effective Feb 28, 1994Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989. Renumbered from Business Occupations and Professions § 16-503 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994.State of Maryland
- (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.
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:
Added by Acts 1989, c. 3, § 1, eff. Oct. 1, 1989. Renumbered from Business Occupations and Professions § 16-503 by Acts 1994, c. 3, § 13, eff. Feb. 28, 1994.
Formerly Art. 56A, § 4-503.