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Ch. 50 2 LAWS OF MARYLAND
specified by the client or beneficial owner or as they and the
attorney may agree upon.
(4) A FINANCIAL INSTITUTION:
(I) MAY NOT CHARGE AGAINST THE INDIVIDUAL
ACCOUNTS OF THE ATTORNEY ANY SERVICE CHARGES FOR TRUST MONEYS IN
ANY ACCOUNT UNDER THIS SECTION; AND
(II) MAY CHARGE SERVICE CHARGES FOR TRUST
MONEYS IN AN ACCOUNT TO THE MARYLAND LEGAL SERVICES CORPORATION.
(5) Notwithstanding any other provision of law, an
attorney may, at settlement, disburse funds received in a real
estate transaction, whether received in the form of a check or
otherwise.
(b) Any attorney wilfully violating the provisions of this
section, EXCEPT FOR THE REQUIREMENT THAT AN ATTORNEY PLACE
CERTAIN TRUST MONEYS IN A COMMINGLED ACCOUNT FOR CHARITABLE
PURPOSES UNDER SUBSECTION (A)(2) OF THIS SECTION, shall be
charged with professional misconduct, malpractice, or conduct
prejudicial to the administration of justice and shall be
proceeded against for reprimand, suspension, or disbarment under
any applicable provision of this article or any other law or the
Maryland Rules.
(c) Any attorney wilfully violating the provisions of this
section, EXCEPT FOR THE REQUIREMENT THAT AN ATTORNEY PLACE
CERTAIN TRUST MONEYS IN A COMMINGLED ACCOUNT FOR CHARITABLE
PURPOSES UNDER SUBSECTION (A) (2) OF THIS SECTION, in addition to
the penalties set forth in subsection (b) of this section, shall
be guilty of a misdemeanor for each such violation and, on
conviction thereof, shall be fined not more than five thousand
dollars ($5,000) or be imprisoned for not more than five (5)
years, or both in the discretion of the court.
SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:
Article - Business Occupations
10-303.
(a) Subject to this section[:
(1) a lawyer may] A LAWYER SHALL deposit trust money
in an attorney trust account, all interest on which is payable to
the Maryland Legal Services Corporation solely for the charitable
purposes set forth in the Maryland Legal Services Corporation
Act[; and
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