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§ 17-503. Financial institutions eligible for deposits of trust money

West's Annotated Code of MarylandBusiness Occupations and Professions

West's Annotated Code of Maryland
Business Occupations and Professions
Title 17. Real Estate Brokers (Refs & Annos)
Subtitle 5. Miscellaneous Provisions (Refs & Annos)
Part I. Trust Accounts
MD Code, Business Occupations & Professions, § 17-503
§ 17-503. Financial institutions eligible for deposits of trust money
Currentness
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:
(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.

Credits

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.
MD Code, Business Occupations & Professions, § 17-503, MD BUS OCCUP & PROF § 17-503
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