Maryland Business Occupations and Professions Section 17-501
§ 17-501.
  (a)   In this Part I of this subtitle the following words have the meanings indicated.
  (b)   "Beneficial owner" means a person, other than the owner of the trust money, for whose benefit a real estate broker or, on behalf of a real estate broker, an associate real estate broker or a real estate salesperson is entrusted to hold trust money.
  (c)   "Trust money" means a deposit, payment, or other money that a person entrusts to a real estate broker or, on behalf of a real estate broker, to an associate real estate broker or a real estate salesperson to hold for:
    (1)   the benefit of the owner or beneficial owner of the trust money; and
    (2)   a purpose that relates to a real estate transaction involving real estate in the State.