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Maryland Code, Business Occupations and Professions § 10-312

Current as of January 01, 2025 | Updated by Findlaw Staff

(a) The trustees appointed under § 10-311 of this subtitle shall:

(1) receive contributions to the Fund; and

(2) manage the assets of the Fund.

(b) To the extent the trustees consider reimbursement proper and reasonable, the trustees may use the Fund to reimburse a person for a loss that was caused by a defalcation of a lawyer if:

(1) the lawyer caused the loss while acting for the person as an attorney at law or a fiduciary; and

(2) the person cannot recover the money under a bond.

(c) The trustees may enforce a claim for restitution arising by subrogation, assignment, or otherwise against any person whose actions gave rise to a claim that the Fund pays.

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Cite this article: FindLaw.com - Maryland Code, Business Occupations and Professions § 10-312 - last updated January 01, 2025 | https://codes.findlaw.com/md/business-occupations-and-professions/md-code-bus-occup-and-prof-sect-10-312/

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