§ 10–301

Statutes in effect as of October 1, 2026.

Md. Code Ann., Bus. Occ. & Prof. § 10-301 (2026)

Title 10. Lawyers

Subtitle 3. Trust Money

(a)

In this Part I of this subtitle the following words have the meanings indicated.

(b)

(1)

“Attorney trust account” means an account that a lawyer or law firm maintains at a financial institution for the deposit of trust money.

(2)

“Attorney trust account” includes an escrow account.

(c)

“Beneficial owner” means a person, other than the client of a lawyer, for whose benefit a lawyer is entrusted to hold trust money.

(d)

“Trust money” means a deposit, payment, or other money that a person entrusts to a lawyer to hold for the benefit of a client or a beneficial owner.