(a) A seller may not fail to deposit, as required by this subtitle, money received under or in connection with a preneed burial contract.
(b)(1) Except as otherwise provided in subsection (c) of this section, a person who violates this section is guilty of a misdemeanor and, on conviction, is subject to:
(i) for a first violation, a fine not exceeding $10,000 or imprisonment not exceeding 1 year or both;
(ii) for a second violation, a fine not exceeding $15,000 or imprisonment not exceeding 2 years or both; and
(iii) for a third or subsequent violation, a fine not exceeding $20,000 or imprisonment not exceeding 3 years or both.
(2) Except as otherwise provided in subsection (c) of this section, if a corporation violates this section, each officer responsible for the violation is guilty of a misdemeanor and, on conviction, is subject to:
(i) for a first violation, a fine not exceeding $10,000 or imprisonment not exceeding 1 year or both;
(ii) for a second violation, a fine not exceeding $15,000 or imprisonment not exceeding 2 years or both; and
(iii) for a third or subsequent violation, a fine not exceeding $20,000 or imprisonment not exceeding 3 years or both.
(c) A person who willfully misappropriates or intentionally and fraudulently converts preneed trust funds in excess of $100 to that person's own use is guilty of a felony and, on conviction, is subject to a fine not exceeding $25,000 or imprisonment not exceeding 10 years or both.
Credits
Acts 1992, c. 4, § 2; renumbered from Business Regulation § 5-412 by Acts 1997, c. 675, § 1, eff. July 1, 1997. Amended by Acts 2013, c. 99, § 1, eff. July 1, 2013.
Formerly Art. 23, § 165B.
MD Code, Business Regulation, § 5-712, MD BUS REG § 5-712
Current with legislation effective through July 1, 2023, from the 2023 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
