{"data":{"id":"us-md/md.-code-estates-and-trusts-13-209.1","jurisdiction":"us-md","citation":"Md. Code, Estates and Trusts § 13–209.1","heading":"","body":"(a) (1) Subject to paragraph (2) of this subsection, a guardian of the property of a minor or disabled person may petition the court to deposit cash belonging to the minor or disabled person in an amount not exceeding $200,000 into a single restricted account.\n(2) (i) If the amount of cash belonging to a minor or disabled person exceeds $200,000, any excess amount shall be deposited into additional restricted accounts.\n(ii) The amount deposited in an additional restricted account under subparagraph (i) of this paragraph may not exceed $200,000.\n(iii) The aggregate amount deposited in any financial institution may not exceed $200,000.\n(b) A deposit under subsection (a) of this section may be made into any type of account, including a certificate of deposit, in a financial institution that:\n(1) Accepts deposits; and\n(2) (i) Is federally insured; or\n(ii) Is regulated by the Commissioner of Financial Regulation.","path":["Article - Estates and Trusts"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=get\u0026section=13-209.1","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:07Z","sha256":"c2078c4c38757ecbeba477d618076068243b1b1653d918eb099730c71652fcbb","source_id":"us-md","stale":false,"prev":"us-md/md.-code-estates-and-trusts-13-209","next":"us-md/md.-code-estates-and-trusts-13-210"},"notice":"GroundRules: Original legal text. Not legal advice."}