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2021 Maryland Statutes
Title 10 - Sales of Property
Subtitle 3 - Deposits on New Homes
Section 10-301.2 - Interest on and Investment of Trust Money
Universal Citation: MD. Real Property Code Ann. § 10-301.2 (2021)
(a) 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) 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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