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§ 19-402. Boat broker trust accounts

West's Annotated Code of MarylandBusiness RegulationEffective: October 1, 2008

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 19. Miscellaneous State Business Regulation (Refs & Annos)
Subtitle 4. Boat Sales (Refs & Annos)
Effective: October 1, 2008
MD Code, Business Regulation, § 19-402
§ 19-402. Boat broker trust accounts
Currentness
(a) A boat broker shall place any trust moneys received in anticipation of a boat purchase into a boat broker trust account until the boat broker:
(1) disburses the trust moneys to the beneficial owner on completion of the boat purchase; or
(2) returns the trust moneys to the purchaser if the boat purchase is not completed.
(b) A boat broker trust account established under this section shall be separate from the boat broker's operating account.

Credits

Added by Acts 2008, c. 287, § 1, eff. Oct. 1, 2008.
MD Code, Business Regulation, § 19-402, MD BUS REG § 19-402
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
End of Document