Maryland Statutes
Part I - Trust Accounts
Section 17-503 - Authorized Financial Institutions

Except as authorized under § 17-505 of this subtitle, a real estate broker shall deposit all trust money in a financial institution that is located in the State and whose deposits are insured by:
        (1)    the Federal Deposit Insurance Corporation;
        (2)    the Federal Savings and Loan Insurance Corporation;
        (3)    the National Credit Union Administration;
        (4)    the State of Maryland Deposit Insurance Fund Corporation; or
        (5)    the Credit Union Insurance Corporation.