VETOES

be guilty of a misdemeanor for each such violation and, on
conviction thereof, shall be fined not more than five thousand
dollars ($5,000) or be imprisoned for not more than five (5)
years, or both in the discretion of the court.

SECTION 2. AND BE IT FURTHER ENACTED, That the Laws of
Maryland read as follows:

Article - Business Occupations

10-303.

(a)  Subject to this section[:

(1)  a lawyer may] A LAWYER SHALL deposit trust money
in an attorney trust account, all interest on which is payable to
the Maryland Legal Services Corporation solely for the charitable
purposes set forth in the Maryland Legal Services Corporation
Act[; and

(2)  the decision whether to deposit trust money in
such an account shall be in the sole discretion of the lawyer].

(b)  A lawyer [may] SHALL deposit trust money in an interest
bearing account under this section whenever the lawyer reasonably
expects that, for the period that the lawyer expects to hold the
trust money, the interest that it would earn:

(1)  would not exceed $50; or

(2) (i) would exceed $50; but

(ii) would not cover the cost of administering
an interest bearing account on which interest is payable to the
client or beneficial owner.

(C) THE MARYLAND LEGAL SERVICES CORPORATION MAY WAIVE THE
PROVISIONS OF SUBSECTION (B) OF THIS SECTION WITH RESPECT TO A
LAWYER OR LAW FIRM THAT DEMONSTRATES THAT IT WILL COST THE
MARYLAND LEGAL SERVICES CORPORATION MORE IN SERVICE CHARGES TO
OPEN AND MAINTAIN AN ATTORNEY TRUST ACCOUNT FOR THE PURPOSES OF
THE MARYLAND LEGAL SERVICES CORPORATION THAN WILL BE GENERATED IN
INTEREST BY THE ATTORNEY TRUST ACCOUNT.

[(c)] (D) (1) At least quarterly, each financial
institution that has an account described under this section
shall:

[(1)] (I) deduct from the total interest accumulated
in the account any service charge due on the account; and

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