§ 9-202. Liability for use of funds for purposes other than paying contractors
West's Annotated Code of MarylandReal Property
MD Code, Real Property, § 9-202
§ 9-202. Liability for use of funds for purposes other than paying contractors
Any officer, director, or managing agent of any contractor or subcontractor, who knowingly retains or uses the money held in trust under § 9-201 of this subtitle, or any part thereof, for any purpose other than to pay those subcontractors for whom the money is held in trust, shall be personally liable to any person damaged by the action.
Credits
Added by Acts 1987, c. 345, § 1, eff. July 1, 1987. Amended by Acts 1995, c. 436, § 1, eff. Oct. 1, 1995; Acts 2015, c. 22, § 5.
MD Code, Real Property, § 9-202, MD REAL PROP § 9-202
Current through legislation effective through April 25, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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