§ 10-301 Definitions.

(a) In general. - In this Part I of this subtitle the following words have the meanings indicated.

(b) Attorney trust account. - (1) "Attorney trust account" means an account that a lawyer or law firm maintains at a financial institution for the deposit of trust money.

(2) "Attorney trust account" includes an escrow account.

(c) Beneficial owner. - "Beneficial owner" means a person, other than the client of a lawyer, for whose benefit a lawyer is entrusted to hold trust money.

(d) Trust money. - "Trust money" means a deposit, payment, or other money that a person entrusts to a lawyer to hold for the benefit of a client or a beneficial owner.