{"data":{"id":"us-md/md.-code-financial-institutions-12-917","jurisdiction":"us-md","citation":"Md. Code, Financial Institutions § 12–917","heading":"","body":"(a) Within 2 business days after receipt, a licensee shall deposit, in a trust account established for the benefit of consumers, any funds paid to the licensee by or on behalf of a consumer for disbursement to the consumer’s creditors.\n(b) A licensee shall:\n(1) Maintain separate records of account for each consumer to whom the licensee is providing debt management services;\n(2) Disburse any funds paid by or on behalf of a consumer to the consumer’s creditors within 8 business days after receipt of the funds; and\n(3) (i) Correct any misdirected payments resulting from an error by the licensee; and\n(ii) Reimburse the consumer for any actual fees or other charges imposed by a creditor as a result of the misdirection.\n(c) A licensee may not commingle any trust account established for the benefit of consumers with any operating accounts of the licensee.","path":["Article - Financial Institutions"],"source_url":"https://mgaleg.maryland.gov/mgawebsite/Laws/StatuteText?article=gfi\u0026section=12-917","current_through":"2026-01-01","vintage":"","retrieved_at":"2026-09-14T19:58:27Z","sha256":"df256fa6a1e2ccc238b88a8356b8968a9c76975fea7e92acbd50f4976de4b1d2","source_id":"us-md","stale":false,"prev":"us-md/md.-code-financial-institutions-12-916","next":"us-md/md.-code-financial-institutions-12-918"},"notice":"GroundRules: Original legal text. Not legal advice."}