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2017 Maryland Code
Real Property
Title 10 - Sales of Property
Subtitle 3 - Deposits on New Homes
§ 10-301.2. Interest on and investment of trust money
Universal Citation: MD Real Prop Code § 10-301.2 (2017)
- (a) Deposit of trust money. -- A vendor or builder may deposit trust money in:
- (1) A noninterest bearing checking account;
- (2) One or more savings accounts; or
- (3) Any combination of accounts in any bank or savings and loan association authorized by federal or State law to do business in the State.
- (b) Investment of trust money in other investment vehicles. -- Trust money in the hands of the vendor or builder may be invested in any other investment vehicle specified by the client or beneficial owner or as they and the licensee may agree.
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