(1) Each title insurer or title insurance producer expecting to make trust money deposits, as set forth in §B of this regulation, shall establish one or more MAHT accounts with a financial institution.
(2) The MAHT account:
(a) May provide all of the financial services which may be required by a title insurer or a title insurance producer;
(b) Shall be an interest-bearing account; and
(c) Shall be an account which:
(i) Is permitted to be held by a title insurer or title insurance producer under federal or State law; and
(ii) Charges reasonable and customary service charges for commercial accounts.
B. Trust Money Deposits.
(1) Except as provided in §B(3) of this regulation, a title insurer or title insurance producer shall deposit all trust monies, as defined in Regulation .02B of this chapter, into a MAHT account as provided in §B(2) of this regulation.
(2) Trust money from a particular transaction shall be deposited into a MAHT account only if, in the reasonable judgement of the title insurer or the title insurance producer, the money (if deposited into a separate MAHT interest bearing account) would earn:
(a) $50 or less in interest; or
(b) More than $50 in interest, if the reasonable and customary charges of the financial institution are anticipated to be more than the interest which would be earned on the trust money if separately deposited into a MAHT interest bearing account.
(3) A law firm is not required to deposit trust monies into a MAHT account, but shall deposit those monies as may be required by any other applicable law, including the attorney trust accounts provisions of Business Occupations and Professions Article, Annotated Code of Maryland.