Md. Code, Business Regulation § 19-402

Md. Code, Business Regulation § 19-402
in effect
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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.
Source: Open US Law by Vaquill AI (CC BY 4.0)URL: https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gbr&section=19-402&enactments=falseFetched: 10/16/2026

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