State Codes and Statutes
Statutes > Maryland > Business-occupations-and-professions > Title-10 > Subtitle-3 > 10-301§ 10-301. Definitions.
(a) In general.- In this Part I of this subtitle the following words have the meanings indicated.
(b) Attorney trust account.-
(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.- "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.- "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.
[1989, ch. 3, § 1.]
