WILLIAM DONALD SCHAEFER, Governor Ch. 632

(ii) a checking account;

(iii) an account that is subject to negotiable
orders of withdrawal; or

(iv) any combination of these accounts.

(3) A lawyer who deposits trust money in a
noninterest bearing account is not liable for damages that relate
to the loss of interest on the trust money if the deposit is made
in compliance with:

(i) the provisions of this Part I of this
subtitle; and

(ii) the applicable provisions of the Maryland
Rules of Professional Conduct.

10-303.

(a)  Subject to this section:

(1)  a lawyer may 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

(2)  the decision whether to deposit trust money in
such an account shall be in the sole discretion of the lawyer.

(b)  A lawyer may 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)  At least quarterly, each financial institution that has
an account described under this section shall:

(1)  deduct from the total interest accumulated in the
account any service charge due on the account; and

(2)  pay the net interest to the Maryland Legal
Services Corporation.

10-304.

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