{"data":{"id":"us-md/md.-code-business-regulation-19-401","jurisdiction":"us-md","citation":"Md. Code, Business Regulation § 19–401","heading":"","body":"(a) In this subtitle the following words have the meanings indicated.\n(b) “Beneficial owner” means a person for whose benefit a boat broker is entrusted to hold money.\n(c) “Boat” means any vessel that is propelled by sail or machinery in the water.\n(d) “Boat broker” means a person who provides boat brokerage services for another person.\n(e) “Boat broker trust account” means an account that a broker maintains at a financial institution for the deposit of trust money.\n(f) “Boat brokerage services” means to engage in any of the following activities for an expectation of compensation:\n(1) selling a boat, offering to sell a boat, or negotiating to sell a boat;\n(2) buying a boat, offering to buy a boat, or negotiating to buy a boat;\n(3) soliciting or obtaining a listing of a boat; or\n(4) negotiating the purchase, sale, or exchange of a boat.\n(g) “Trust money” means a deposit, payment, or other money that a person entrusts to a boat broker to hold for the benefit of the person or a beneficial owner.","path":["Article - Business Regulation"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gbr\u0026section=19-401","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:56:23Z","sha256":"f231e75d60de7f2d3f8aa2ad317b31dc9cd8dafd6c5c4fcd8a84290cbed01aa3","source_id":"us-md","stale":false,"prev":"us-md/md.-code-business-regulation-19-308","next":"us-md/md.-code-business-regulation-19-402"},"notice":"GroundRules: Original legal text. Not legal advice."}