§ 19–402

Statutes in effect as of October 1, 2026.

Md. Code Ann., Bus. Reg. § 19-402 (2026)

Title 19. Miscellaneous State Business Regulation

Subtitle 4. Boat Sales

(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.