{"data":{"id":"us-md/md.-code-business-regulation-1-503","jurisdiction":"us-md","citation":"Md. Code, Business Regulation § 1–503","heading":"","body":"(a) A person engaged in a trade or business who, in the course of that trade or business, receives more than $10,000 in currency in 1 transaction shall keep a record of the transaction and shall file with the Department within 15 days of the date of the transaction a report of the transaction.\n(b) The reporting requirements of this section are complied with if the person engaged in a trade or business files with the Department a duplicate copy of the report required by 26 U.S.C. § 6050-I.\n(c) The Secretary shall adopt regulations appropriate to carry out the purposes of this subtitle and to provide for exemption of transactions that are clearly of a legitimate nature for which mandatory reporting would serve no useful purpose.","path":["Article - Business Regulation"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gbr\u0026section=1-503","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:23Z","sha256":"3b5e41b198ddf9b9eb04731f455614ce7cd7f1fa2a7de08336bb68c5cd634c0c","source_id":"us-md","stale":false,"prev":"us-md/md.-code-business-regulation-1-502","next":"us-md/md.-code-business-regulation-1-504"},"notice":"GroundRules: Original legal text. Not legal advice."}