Md. Code, Bus. Reg. § 19-402

Maryland · Maryland Code, Business Regulation · Status: effective

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Citation: Md. Code, Bus. Reg. § 19-402, Maryland, version 1 as recorded 2026-09-28, yourstate.us, https://yourstate.us/provision/1757068
Permanent ID: ys:prov:1757068@1
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(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.