Maryland § 15-208
Full text of Maryland Maryland Code § 15-208, with citation guidance and answers to common questions.
§ 15-208.
(a) This section applies if a fiduciary makes a deposit in a bank to the fiduciary’s personal credit of:
(1) Checks drawn by the fiduciary on an account in the name of the fiduciary as fiduciary;
(2) Checks payable to the fiduciary as fiduciary;
(3) Checks drawn by the fiduciary on an account in the name of the fiduciary’s principal, if the fiduciary is empowered to draw checks on the account;
(4) Checks payable to the principal of a fiduciary and indorsed by the fiduciary, if the fiduciary is empowered to indorse the checks; or
(5) Other funds held by the fiduciary as fiduciary.
(b) A bank receiving a deposit in accordance with subsection (a) of this section may not be bound to inquire whether the fiduciary is committing a breach of the obligation as fiduciary and is authorized to pay the amount of the deposit or any part of the deposit on the personal check of the fiduciary without being liable to the principal, unless the bank receives the deposit or pays the check with actual knowledge that the fiduciary is committing a breach of the obligation as fiduciary in making the deposit or in drawing the check, or with knowledge of the facts that the action of the bank in receiving the deposit or paying the check amounts to bad faith.
Frequently Asked Questions About Maryland § 15-208
What does Maryland Code § 15-208 cover?
Section 15-208 is part of the Maryland Code, the codified statutory law of Maryland. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Maryland § 15-208?
A common citation format is "Maryland Code § 15-208" (Maryland). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Maryland law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Maryland official source linked on this page or consult a licensed Maryland attorney.
How does Maryland § 15-208 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Maryland can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Maryland.