Md. Code, Business Regulation § 19-401
This is the official text of Md. Code, Business Regulation § 19-401, part of Maryland’s Code, Business Regulation — governs general business licensing and regulation.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§19–401.
Official statutory text
(a) In this subtitle the following words have the meanings indicated.
(b) “Beneficial owner” means a person for whose benefit a boat broker is entrusted to hold money.
(c) “Boat” means any vessel that is propelled by sail or machinery in the water.
(d) “Boat broker” means a person who provides boat brokerage services for another person.
(e) “Boat broker trust account” means an account that a broker maintains at a financial institution for the deposit of trust money.
(f) “Boat brokerage services” means to engage in any of the following activities for an expectation of compensation:
(1) selling a boat, offering to sell a boat, or negotiating to sell a boat;
(2) buying a boat, offering to buy a boat, or negotiating to buy a boat;
(3) soliciting or obtaining a listing of a boat; or
(4) negotiating the purchase, sale, or exchange of a boat.
(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.
(b) “Beneficial owner” means a person for whose benefit a boat broker is entrusted to hold money.
(c) “Boat” means any vessel that is propelled by sail or machinery in the water.
(d) “Boat broker” means a person who provides boat brokerage services for another person.
(e) “Boat broker trust account” means an account that a broker maintains at a financial institution for the deposit of trust money.
(f) “Boat brokerage services” means to engage in any of the following activities for an expectation of compensation:
(1) selling a boat, offering to sell a boat, or negotiating to sell a boat;
(2) buying a boat, offering to buy a boat, or negotiating to buy a boat;
(3) soliciting or obtaining a listing of a boat; or
(4) negotiating the purchase, sale, or exchange of a boat.
(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.
Status: in_force · Read it on the official government site
Dealing with a business matter in Maryland?
See all Maryland Business lawyers
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.