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2013 Maryland Code
BUSINESS REGULATION
§ 19-402 - Boat broker trust account


MD Bus Reg Code § 19-402 (2013) What's This?

§19-402.

(a) A boat broker shall place any trust moneys received in anticipation of a boat purchase into a boat broker trust account until the boat broker:

(1) disburses the trust moneys to the beneficial owner on completion of the boat purchase; or

(2) returns the trust moneys to the purchaser if the boat purchase is not completed.

(b) A boat broker trust account established under this section shall be separate from the boat broker’s operating account.

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