Code of Maryland Regulations (Last Updated: April 6, 2021) |
Title 09. Maryland Department of Labor |
Subtitle 11. REAL ESTATE COMMISSION |
Chapter 09.11.01. General Regulations |
Sec. 09.11.01.06. Records of Transactions
Latest version.
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If a licensee has custody or possession of money belonging to others, in the absence of proper written instructions from the parties involved in the transaction to the contrary, they shall be deposited and retained in a non-interest-bearing escrow account clearly designated as containing funds held for others.