Ch. 3

LAWS OF MARYLAND

discretion of a lawyer to choose to deposit the trust
money into an account that earns interest payable to
the Maryland Legal Services Corporation.

Former Art. 10, § 44(a)(4) conditioned the investment
of trust money by a lawyer on instructions to the
lawyer by either the client or the beneficial owner of
the trust money but seemed to require that, if the
authority to invest is to be provided by agreement,
both the client and beneficial owner must be parties
to the agreement. This inconsistency did not seem to
be intentional. Therefore, item (2) of this section
requires only that either the client or the beneficial
owner be a party to an agreement with the lawyer.

Defined terms: "Attorney trust account" § 10-301
"Beneficial owner" § 10-301 "Lawyer" § 10-101
"Trust money" § 10-301

10-306. MISUSE OF TRUST MONEY.

A LAWYER MAY NOT USE TRUST MONEY FOR ANY PURPOSE OTHER THAN
THE PURPOSE FOR WHICH THE TRUST MONEY IS ENTRUSTED TO THE LAWYER.

REVISOR'S NOTE: This section is new language derived
without substantive change from the second sentence of
former Art. 10, § 44(a)(1), as that sentence related
to misuse of trust money.

Defined terms: "Lawyer" § 10-101
"Trust money" § 10-301

10-307. DISCIPLINARY ACTION.

A LAWYER WHO WILLFULLY VIOLATES ANY PROVISION OF THIS PART I
OF THIS SUBTITLE IS SUBJECT TO DISCIPLINARY PROCEEDINGS AS THE
MARYLAND RULES PROVIDE.

REVISOR'S NOTE: This section is new language derived
without substantive change from former Art. 10, §
44(b).

The reference to an offender being "subject to
disciplinary proceedings as the Maryland Rules
provide" is substituted for the former references to
charging an offender "with professional misconduct,
malpractice, or conduct prejudicial to the
administration of justice" and proceeding against an
offender for "reprimand, suspension, or disbarment",
for clarity and brevity.

As to criminal penalties, see § 10-607(h) of this
title.

- 466 -