09.11.01.17

.17 Escrow Account Signators.

A real estate broker shall be a signator or at least one of the signators on checks which may be drawn on escrow accounts which, under Business Occupations and Professions Article, Title 17, Subtitle 5, Part I, Annotated Code of Maryland, this real estate broker is required to maintain at all times. This real estate broker may designate an alternate signator to sign checks, and this designated alternate signator shall be a licensee. A nonlicensed person may be a cosignator on the broker's escrow account, provided all checks are also cosigned by a designated licensee.