§ 17-503. Authorized financial institutions

Latest version.

   Except as authorized under § 17-505 of this subtitle, a real estate broker shall deposit all trust money in a financial institution that is located in the State and whose deposits are insured by:

   (1) the Federal Deposit Insurance Corporation;

   (2) the Federal Savings and Loan Insurance Corporation;

   (3) the National Credit Union Administration;

   (4) the State of Maryland Deposit Insurance Fund Corporation; or

   (5) the Credit Union Insurance Corporation.

HISTORY: An. Code 1957, art. 56A, § 4-503; 1989, ch. 3, § 1; 1994, ch. 3, § 13.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');