Md. Code, Bus. Occ. & Prof. § 10-312
Md. Code, Bus. Occ. & Prof. § 10-312
Maryland · Maryland Code, Business Occupations and Professions · Status: effective
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- Citation
- Md. Code, Bus. Occ. & Prof. § 10-312, Maryland, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1750112
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Full text
(a) The trustees appointed under § 10-311 of this subtitle shall:
(1) receive contributions to the Fund; and
(2) manage the assets of the Fund.
(b) To the extent the trustees consider reimbursement proper and reasonable, the trustees may use the Fund to reimburse a person for a loss that was caused by a defalcation of a lawyer if:
(1) the lawyer caused the loss while acting for the person as an attorney at law or a fiduciary; and
(2) the person cannot recover the money under a bond.
(c) The trustees may enforce a claim for restitution arising by subrogation, assignment, or otherwise against any person whose actions gave rise to a claim that the Fund pays.