Ch. 374                                    2003 LAWS OF MARYLAND

(1)      ESTABLISHED IN A FINANCIAL INSTITUTION THAT IS FEDERALLY
INSURED;

(2)      SEPARATE FROM THE DEBT MANAGEMENT SERVICES PROVIDER'S
OPERATING ACCOUNT;

(3)      IMPRESSED WITH A TRUST THAT IS FREE FROM THE TRUSTEE
PROCESS DESIGNATED AS A "TRUST ACCOUNT" OR BY ANOTHER APPROPRIATE
DESIGNATION INDICATING THAT THE FUNDS IN THE ACCOUNT ARE NOT THE FUNDS
OF THE LICENSEE OR ITS OFFICERS, EMPLOYEES, OR AGENTS;

(4)      UNAVAILABLE TO CREDITORS OF THE DEBT MANAGEMENT
SERVICES PROVIDER; AND

(5)      USED TO HOLD FUNDS PAID BY CONSUMERS TO A DEBT
MANAGEMENT SERVICES PROVIDER FOR DISBURSEMENT TO CREDITORS OF THE
CONSUMERS.

12-902.

THIS SUBTITLE DOES NOT APPLY TO:

(1) THE FOLLOWING PERSONS WHEN ENGAGED IN THE REGULAR
COURSE OF THEIR RESPECTIVE BUSINESSES AND PROFESSIONS:

(I)      AN ATTORNEY AT LAW;

(II)     AN ESCROW AGENT;

(III)   A CERTIFIED PUBLIC ACCOUNTANT;

(IV)    A BANK, SAVINGS AND LOAN, CREDIT UNION, OR TRUST
COMPANY BANKING INSTITUTION, OTHER-STATE BANK, NATIONAL BANKING
ASSOCIATION, CREDIT UNION, OR SAVINGS AND LOAN ASSOCIATION;

(V)     A PERSON THAT:

1. PROVIDES BILL PAYER SERVICES, AS DEFINED IN § 12-401
OF THIS TITLE;

2. DOES NOT INITIATE ANY CONTRACT WITH INDIVIDUAL
CREDITORS OF THE DEBTOR TO COMPROMISE A DEBT OR ARRANGE A NEW PAYMENT
SCHEDULE; AND

3. DOES NOT PROVIDE ANY DEBT COUNSELING SERVICES;

(VI)    A PERSON THAT PROVIDES ACCELERATED MORTGAGE
PAYMENT SERVICES, AS DEFINED IN § 12-401 OF THIS TITLE;

(VII)  AN APPROVED SERVICER, AS DEFINED IN § 11-522 OF THIS
ARTICLE;

(V) (VIII) A TITLE INSURER, TITLE INSURANCE AGENCY, OR
ABSTRACT COMPANY; OR

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