§ 10-412. Deposit of funds held on behalf of insured in noninterest-bearing escrow or trust acc...
West's Annotated Code of MarylandInsuranceEffective: January 1, 2018
Effective: January 1, 2018
MD Code, Insurance, § 10-412
§ 10-412. Deposit of funds held on behalf of insured in noninterest-bearing escrow or trust account
A public adjuster who receives, accepts, or holds any funds on behalf of an insured toward the settlement of a claim for loss or damage shall deposit the funds in a noninterest-bearing escrow or trust account in a financial institution that is federally insured in the public adjuster's home state or where the loss occurred.
Credits
Added by Acts 2017, c. 106, § 1, eff. Jan. 1, 2018.
MD Code, Insurance, § 10-412, MD INSURANCE § 10-412
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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