# Business Occupations and Professions (GBO)

## Title 17. Real Estate Brokers

### Subtitle 5. Miscellaneous Provisions

#### Section 17-503

Except as authorized under Sec. 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.

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Md. Code Ann., Bus. Occ. & Prof. (as displayed at mgaleg.maryland.gov, October 16, 2026)