reglab/housing_qa huggingface dataset:
MD. Business Occupations and Professions Code Ann. §  10-303 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part I - Attorney Trust Accounts|Section 10-303 - Accounts Earning Interest for Maryland Legal Services Corporation

    (a)    Subject to this section a lawyer shall deposit trust money in an attorney trust account, all interest on which is payable to the Maryland Legal Services Corporation Fund established under § 11–402 of the Human Services Article.    (b)    A lawyer shall deposit trust money in an interest bearing account under this section whenever the lawyer reasonably expects that, for the period that the lawyer expects to hold the trust money, the interest that it would earn:        (1)    would not exceed $50; or        (2)    (i)    would exceed $50; but            (ii)    would not cover the cost of administering an interest bearing account on which interest is payable to the client or beneficial owner.    (c)    The Administrative Office of the Courts, in consultation with the Maryland Legal Services Corporation, may waive the provisions of subsection (b) of this section with respect to a lawyer or law firm that demonstrates that it will cost the Maryland Legal Services Corporation Fund more in service charges to open and maintain an attorney trust account with the interest payable to the Maryland Legal Services Corporation Fund than will be generated in interest by the attorney trust account.    (d)    (1)    At least quarterly, each financial institution that has an account described under this section shall:            (i)    deduct from the total interest accumulated in the account any service charge due on the account; and            (ii)    pay the net interest to the Maryland Legal Services Corporation Fund.        (2)    A financial institution:            (i)    may not charge against the individual accounts of a lawyer any service charges for trust money in an account under this section; and            (ii)    may charge the Maryland Legal Services Corporation Fund.
MD. Business Occupations and Professions Code Ann. §  10-304 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part I - Attorney Trust Accounts|Section 10-304 - Deposit of Trust Money

    (a)    Except as provided in subsection (b) of this section, a lawyer expeditiously shall deposit trust money into an attorney trust account.    (b)    Subsection (a) of this section does not apply if there is a court order to the contrary.    (c)    Notwithstanding subsection (a) of this section or any other law, a lawyer may disburse, at settlement in a real estate transaction, trust money that the lawyer receives in the transaction.
MD. Business Occupations and Professions Code Ann. §  10-305 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part I - Attorney Trust Accounts|Section 10-305 - Investment on Direction of Client or Beneficial Owner

    Except for trust money that a lawyer is required to deposit in an attorney trust account that earns interest payable to the Maryland Legal Services Corporation, a lawyer may withdraw trust money from an attorney trust account and invest it:         (1)    as the client or beneficial owner of the trust money instructs; or        (2)    as the lawyer and the client or beneficial owner of the trust money agree.
MD. Business Occupations and Professions Code Ann. §  10-306 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part I - Attorney Trust Accounts|Section 10-306 - Misuse of Trust Money

    A lawyer may not use trust money for any purpose other than the purpose for which the trust money is entrusted to the lawyer.
MD. Business Occupations and Professions Code Ann. §  10-307 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part I - Attorney Trust Accounts|Section 10-307 - Disciplinary Action

    A lawyer who willfully violates any provision of this Part I of this subtitle, except for the requirement that a lawyer deposit trust money in an attorney trust account for charitable purposes under § 10–303 of this subtitle, is subject to disciplinary proceedings as the Maryland Rules provide.
MD. Business Occupations and Professions Code Ann. §  10-310 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part II - Client Protection Fund|Section 10-310 - "Fund" Defined

    In this Part II of this subtitle, “Fund” means the Client Protection Fund of the Bar of Maryland.
MD. Business Occupations and Professions Code Ann. §  10-311 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part II - Client Protection Fund|Section 10-311 - Establishment of Fund; Trustees

    (a)    The Court of Appeals may adopt rules that:        (1)    establish a Client Protection Fund of the Bar of Maryland;        (2)    provide for the appointment of trustees to administer the Fund; and        (3)    provide for the operation of the Fund.    (b)    The purpose of the Fund is to maintain the integrity of the legal profession by paying money to reimburse losses caused by defalcations of lawyers.    (c)    By rule, the Court of Appeals may:        (1)    require a lawyer to pay an annual fee, not exceeding $20, to the Fund; and        (2)    specify the penalties, including suspension and disbarment, for practicing law without having paid the annual fee.    (d)    The Fund may raise and collect money through voluntary contributions or other means.
MD. Business Occupations and Professions Code Ann. §  10-312 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part II - Client Protection Fund|Section 10-312 - Powers and Duties of Trustees

    (a)    The trustees appointed under § 10-311 of this subtitle shall:        (1)    receive contributions to the Fund; and        (2)    manage the assets of the Fund.    (b)    To the extent the trustees consider reimbursement proper and reasonable, the trustees may use the Fund to reimburse a person for a loss that was caused by a defalcation of a lawyer if:        (1)    the lawyer caused the loss while acting for the person as an attorney at law or a fiduciary; and        (2)    the person cannot recover the money under a bond.    (c)    The trustees may enforce a claim for restitution arising by subrogation, assignment, or otherwise against any person whose actions gave rise to a claim that the Fund pays.
MD. Business Occupations and Professions Code Ann. §  10-313 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 10 - Lawyers|Subtitle 3 - Trust Money|Part II - Client Protection Fund|Section 10-313 - List of Lawyers Paying Fees to Fund

    (a)    By August 31 of each year, the Fund shall provide a list of lawyers who have paid an annual fee to the Fund during the previous fiscal year to:        (1)    the Department of Assessments and Taxation, to assist the Department in identifying new businesses within the State; and        (2)    the Comptroller, to assist the Comptroller in determining whether each lawyer on the list has paid all undisputed taxes and unemployment insurance contributions payable to the Comptroller or the Secretary of Labor.    (b)    The list provided under this section shall:        (1)    be provided free of charge; and        (2)    include, for each person on the list:            (i)    the name and mailing address of the person; and            (ii)    the federal tax identification number of the person or, if the person does not have a federal tax identification number, the Social Security number of the person.    (c)    If the Comptroller determines that a lawyer has not paid all undisputed taxes and unemployment insurance contributions payable to the Comptroller or the Secretary of Labor and the lawyer does not make payment or provide for payment in a manner satisfactory to the unit responsible for collection within 60 days after receiving notice of the delinquency from the Comptroller, or within any longer period authorized for good cause by the unit responsible for collection, the Comptroller may refer the matter to Bar Counsel under Maryland Rule 16–731.
MD. Business Occupations and Professions Code Ann. §  17-501 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part I - Trust Accounts|Section 17-501 - Definitions

    (a)    In this Part I of this subtitle the following words have the meanings indicated.    (b)    “Beneficial owner” means a person, other than the owner of the trust money, for whose benefit a real estate broker or, on behalf of a real estate broker, an associate real estate broker or a real estate salesperson is entrusted to hold trust money.    (c)    “Trust money” means a deposit, payment, or other money that a person entrusts to a real estate broker or, on behalf of a real estate broker, to an associate real estate broker or a real estate salesperson to hold for:        (1)    the benefit of the owner or beneficial owner of the trust money; and        (2)    a purpose that relates to a real estate transaction involving real estate in the State.
MD. Business Occupations and Professions Code Ann. §  17-502 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part I - Trust Accounts|Section 17-502 - Handling of Trust Money

    (a)    An associate real estate broker or a real estate salesperson who obtains trust money while providing real estate brokerage services promptly shall submit the trust money to the real estate broker on whose behalf the associate real estate broker or the real estate salesperson provided the real estate brokerage services.    (b)    (1)    Except as otherwise provided in subsection (c) of this section, a real estate broker promptly, but not more than 7 business days after the acceptance of a contract of sale by both parties, shall deposit trust money in an account that is maintained by the real estate broker:            (i)    separately from the real estate broker’s own accounts; and            (ii)    solely for trust money.        (2)    A real estate broker may not use trust money for any purpose other than that for which it is entrusted to the real estate broker.    (c)    Subsection (b)(1) of this section does not apply if the real estate broker receives written directions to the contrary as authorized under § 17-505(d) of this subtitle.
MD. Business Occupations and Professions Code Ann. §  17-503 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part I - Trust Accounts|Section 17-503 - Authorized Financial Institutions

    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.
MD. Business Occupations and Professions Code Ann. §  17-504 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part I - Trust Accounts|Section 17-504 - Authorized Accounts

    Unless the owner and beneficial owner give written instructions to the contrary, a real estate broker may deposit trust money in:         (1)    a noninterest bearing checking account;        (2)    a noninterest bearing savings account; or        (3)    any combination of these accounts.
MD. Business Occupations and Professions Code Ann. §  17-507 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part I - Trust Accounts|Section 17-507 - Maintenance of Records

    (a)    Each real estate broker shall maintain all records of trust money in a secured area within the office of the broker.    (b)    (1)    Each licensee shall keep copies of:            (i)    listings; and            (ii)    any other document executed or obtained by the licensee in connection with a transaction involving the provision of real estate brokerage services, including any electronic signature contained on a document.        (2)    (i)    A licensee shall keep the records required by this section for 5 years, starting on the date of the closing of a real estate transaction, or, if the transaction is not closed, 5 years after the date of the listing.            (ii)    A licensee providing property management services shall keep the records required by this section for 5 years after the termination of the management agreement.    (c)    For any record required to be kept under subsections (a) and (b) of this section, a licensee may keep and store an electronic record of the information if:        (1)    the stored record cannot be erased or edited;        (2)    the stored record is made or preserved as part of, and in the regular course of, the licensee’s business;        (3)    the original record from which the stored record was copied was made or prepared by the licensee or the licensee’s employees at or near the time of the activity described in the record;        (4)    the custodian of the record is able to identify the stored record, the mode of its preparation, and the mode of storage; and        (5)    the electronic storage system contains a reliable indexing system that provides:            (i)    convenient access to the document or record;            (ii)    appropriate quality control of the storage process; and            (iii)    chronological arrangement of stored documents or records.    (d)    (1)    On reasonable notice from the Commission, a licensee shall allow a representative of the Commission to enter the licensee’s place of business during business hours to inspect a record required to be kept under subsection (b) of this section.        (2)    The licensee shall provide, at the licensee’s expense, a paper copy of any document or record requested by the Commission.        (3)    A licensee shall display to the Commission on demand all records, books, and accounts of any money held in trust.
MD. Business Occupations and Professions Code Ann. §  17-508 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part I - Trust Accounts|Section 17-508 - Disciplinary Action

    In addition to being subject to disciplinary action under §§ 17-322 and 17-328 of this title, a real estate broker, an associate real estate broker, or a real estate salesperson who violates any provision of this Part I of this subtitle is subject to any other civil or criminal action provided by law.
MD. Business Occupations and Professions Code Ann. §  17-511 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part II - General Miscellaneous Provisions|Section 17-511 - Limitation on Interest in Business by Associate Brokers and Salespersons

    (a)    (1)    In this section the following words have the meanings indicated.        (2)    “Business” means a person or entity, regardless of legal structure, through which real estate brokerage services are provided.        (3)    (i)    “Immediate family member” means a spouse, parent, child, or sibling.            (ii)    “Immediate family member” includes a stepparent, stepchild, or stepsibling.        (4)    “Interest in a business” means, in the case of a business that is in a corporation, the outstanding voting stock of the corporation through which real estate brokerage services are provided.    (b)    (1)    Not more than 50% of the interest in a business may be held directly or indirectly by associate real estate brokers, real estate salespersons, or any combination of associate brokers or salespersons.        (2)    Unless the immediate family member is affiliated with the business as an associate real estate broker or real estate salesperson, an interest of a licensee in a business through which real estate brokerage services are provided shall include any interest in the business held by an immediate family member of the licensee.    (c)    Except as to the limitation of interest of the professional service corporation in a business through which real estate brokerage services are provided, this section does not affect the formation of a professional service corporation by associate real estate brokers and real estate salespersons authorized by § 17–512 of this subtitle.
MD. Business Occupations and Professions Code Ann. §  17-512 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part II - General Miscellaneous Provisions|Section 17-512 - Formation of Various Business Entities by Salespersons and Associate Brokers

    (a)    With the consent of a licensed real estate broker, one or more licensed real estate salespersons and licensed associate real estate brokers who are affiliated with the licensed real estate broker may:        (1)    organize and wholly own a professional service corporation under the Maryland Professional Service Corporation Act;        (2)    form a limited liability company under the Maryland Limited Liability Company Act; or        (3)    form any other business entity authorized under Maryland law.    (b)    A professional service corporation may be organized and owned or a limited liability company or other business entity may be formed under this section by any number and any combination of licensed real estate salespersons and licensed associate real estate brokers. However, each shareholder in the corporation, member of the limited liability company, or owner of any other business entity shall be either a licensed real estate salesperson or a licensed associate real estate broker.    (c)    A licensed real estate salesperson or a licensed associate real estate broker who is a shareholder of a professional service corporation, a member of a limited liability company, or the owner of any other business entity may direct that any commission due the salesperson or associate broker be paid to the corporation, limited liability company, or other business entity.
MD. Business Occupations and Professions Code Ann. §  17-513 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part II - General Miscellaneous Provisions|Section 17-513 - Division of Fees With Individual Licensed in Another State

    An individual licensed by this State may divide a fee that is earned on a real estate transaction in this State with an individual licensed to provide real estate brokerage services in another state if the other state allows a fee that is earned on a real estate transaction in that state to be divided with an individual licensed by this State.
MD. Business Occupations and Professions Code Ann. §  17-514 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part II - General Miscellaneous Provisions|Section 17-514 - Service of Process on and Venue for Nonresident Licensees

    (a)    A nonresident applicant for a license shall submit to the Commission an irrevocable consent, as provided under this section.    (b)    The consent required under this section shall:        (1)    specify that service of process on the executive director of the Commission shall bind the applicant in any action, suit, or proceeding brought against the applicant;        (2)    specify that an action, suit, or proceeding may be brought against the applicant in any county in which:            (i)    the cause of action arose; or            (ii)    the plaintiff resides;        (3)    specify that the consent is irrevocable; and        (4)    be signed by the applicant.    (c)    The Commission may not issue a license to a nonresident applicant, unless the nonresident applicant complies with the requirements of subsections (a) and (b) of this section.    (d)    (1)    Subject to paragraph (2) of this subsection, service of process on the executive director of the Commission binds any person who has submitted a consent to the Commission, as required under this section.        (2)    If service of process is made on the executive director of the Commission as authorized under this section, the person filing immediately shall:            (i)    submit a copy of the filing to the Commission; and            (ii)    send a copy of the filing, by certified mail, return receipt requested, to the principal office of the person against whom the action, suit, or proceeding is directed.        (3)    As to any person who submits a consent as required under this section, any action, suit, or proceeding may be brought in any county of the State in which:            (i)    the cause of action arose; or            (ii)    the plaintiff resides.
MD. Business Occupations and Professions Code Ann. §  17-515 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part II - General Miscellaneous Provisions|Section 17-515 - Implied Consent

    (a)    If any of the following acts are performed by a nonresident real estate broker, nonresident associate real estate broker, or nonresident real estate salesperson, the act shall constitute an irrevocable consent, as provided in subsection (b) of this section:        (1)    participating in any real estate transaction in the State; or        (2)    dividing fees or holding deposits from any real estate transaction in the State.    (b)    A consent arising under this section shall have the same effect and be subject to the same procedures for service of process as a consent submitted under § 17-514 of this subtitle.
MD. Business Occupations and Professions Code Ann. §  17-516 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part II - General Miscellaneous Provisions|Section 17-516 - Actions for Compensation for Providing Real Estate Brokerage Services

    A person may not bring an action or recover on an action for compensation for providing real estate brokerage services in a court of the State unless the person was authorized to provide real estate brokerage services under this title at the time of offering to provide and providing real estate brokerage services.
MD. Business Occupations and Professions Code Ann. §  17-517 (2021)
2021 Maryland Statutes|Business Occupations and Professions|Title 17 - Real Estate Brokers|Subtitle 5 - Miscellaneous Provisions|Part II - General Miscellaneous Provisions|Section 17-517 - Office

    (a)    Each licensed real estate broker who is a resident of the State shall maintain an office in the State.    (b)    Each licensed real estate broker who is a nonresident of the State shall maintain an office in this State if the state in which the nonresident broker resides requires a resident of this State who is licensed in the other state to maintain an office in that state.