Ch. 502                                       LAWS OF MARYLAND

Approved May 19, 1989.

CHAPTER 502

(House Bill 150)

AN ACT concerning

Lawyer Trust Account - Duty of Attorney

FOR the purpose of requiring, instead of permitting, an attorney
to pool and commingle certain client trust moneys with
similar moneys held for other clients; requiring an attorney
to deposit certain client trust moneys in an attorney trust
account with all interest payable for certain purposes;
requiring financial institutions that hold certain trust
moneys to pay the aggregate interest to the Maryland Legal
Services Corporation; providing a certain exception;
clarifying that financial institutions may charge service
charges for certain trust moneys in an account to the
Maryland Legal Services Corporation and not to certain
accounts of the attorney; providing for the effective date
of this Act; and generally relating to certain lawyer trust
accounts.

BY repealing and reenacting, with amendments,

Article 10 - Attorneys at Law and Attorneys in Fact

Section 44

Annotated Code of Maryland

(1987 Replacement Volume and 1988 Supplement)

BY repealing and reenacting, with amendments,

Article - Business Occupations

Section 10-303, 10-305, 10-307, and 10-607(h)

Annotated Code of Maryland

(As enacted by Chapter___ (S.B. 1) 3 of the

Acts of the General Assembly of 1989)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article 10 - Attorneys at Law and Attorneys in Fact

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