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§ 5-712. Failure to deposit money

West's Annotated Code of MarylandBusiness RegulationEffective: July 1, 2013

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 5. Cemeteries (Refs & Annos)
Subtitle 7. Preneed Burial Contracts (Refs & Annos)
Effective: July 1, 2013
MD Code, Business Regulation, § 5-712
§ 5-712. Failure to deposit money
(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 through legislation effective through June 1, 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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