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Maryland · State License Law — free study notes for the real estate licensing exam.
🏛️ State License Law 📍 MarylandMaryland licensees must promptly deposit client and customer money, such as earnest money, into a separate trust or escrow account and must never commingle these funds with personal or business funds. License renewal requires completing approved continuing education during each renewal cycle to keep the license active. Maryland also maintains a Real Estate Guaranty Fund, which can compensate consumers who suffer actual monetary losses caused by a licensee's fraud, misrepresentation, or misuse of funds.
Yes. State License Law is a scored domain on the Maryland real estate licensing exam, and this topic appears in the state license-law portion.
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Maryland applies its own license law on top of the national portion. This page covers the Maryland rules specifically, which is what the state section of your exam tests.