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§ 10-301.2. Deposit and investment of trust moneys

West's Annotated Code of MarylandReal PropertyEffective: July 1, 2011

West's Annotated Code of Maryland
Real Property (Refs & Annos)
Title 10. Sales of Property (Refs & Annos)
Subtitle 3. Deposits on New Homes (Refs & Annos)
Effective: July 1, 2011
MD Code, Real Property, § 10-301.2
§ 10-301.2. Deposit and investment of trust moneys
Currentness
Deposit of trust moneys
(a) A vendor or builder may deposit trust money in:
(1) A noninterest bearing checking account;
(2) One or more savings accounts; or
(3) Any combination of accounts in any bank or savings and loan association authorized by federal or State law to do business in the State.
Investment of trust money
(b) Trust money in the hands of the vendor or builder may be invested in any other investment vehicle specified by the client or beneficial owner or as they and the licensee may agree.

Credits

Added as Real Property § 10-301.1 by Acts 1985, c. 732, § 1. Amended by Acts 1987, c. 309; Acts 1995, c. 58, § 2, eff. Oct. 1, 1995; Acts 1998, c. 144, § 1, eff. Oct. 1, 1998. Renumbered as Real Property § 10-301.2 by Acts 2011, c. 450, § 1, eff. July 1, 2011; Acts 2011, c. 451, § 1, eff. July 1, 2011; Acts 2015, c. 22, § 5.
MD Code, Real Property, § 10-301.2, MD REAL PROP § 10-301.2
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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