(a) (1) In this section the following words have the meanings indicated. (2) "Drug crime" means: (i) a crime under this title; or (ii) a crime committed in another jurisdiction that would be a crime under this title if committed in this State. (3) "Financial transaction" means: (i) a payment; (ii) a purchase; (iii) a sale; (iv) a loan; (v) a pledge; (vi) a transfer; (vii) a delivery; (viii) a deposit; (ix) a withdrawal; or (x) an extension of credit or exchange of a monetary instrument or equivalent property, including precious metals, stones or jewelry, airline tickets, stamps, or credit in a financial institution as defined in § 1-101 of the Financial Institutions Article. (4) "Monetary instrument" means: (i) coin or currency of the United States or any other country; (ii) a bank check; (iii) a travelers' check; (iv) a money order; (v) an investment security; or (vi) a negotiable instrument. (5) "Proceeds" means money or any other property with a value exceeding $10,000. (b) Except for a financial transaction necessary to preserve a person's right to representation as guaranteed by the 6th Amendment to the United States Constitution and Article 21 of the Maryland Declaration of Rights, a person may not, with the intent to promote a drug crime or with the intent to conceal or disguise the nature, location, source, ownership, or control of proceeds of a drug crime: (1) receive or acquire proceeds knowing that the proceeds are derived from a drug crime; (2) engage in a financial transaction involving proceeds knowing that the proceeds are derived from a drug crime; (3) give, sell, transfer, trade, invest, conceal, transport, or maintain an interest in proceeds knowing that the proceeds are derived from a drug crime; (4) direct, promote, plan, organize, initiate, finance, manage, supervise, or facilitate the transportation or transfer of proceeds knowing that the proceeds are derived from a drug crime; or (5) conduct a financial transaction involving proceeds knowing that the proceeds are derived from a drug crime. (c) A person who violates this section is guilty of a felony and on conviction is subject to: (1) for a first violation: (i) imprisonment not exceeding 5 years; (ii) a fine not exceeding the greater of $250,000 or twice the value of the proceeds involved in the financial transaction; or (iii) both; or (2) for each subsequent violation: (i) imprisonment not exceeding 10 years; (ii) a fine not exceeding the greater of $500,000 or 5 times the value of the proceeds involved in the financial transaction; or (iii) both. (d) Notwithstanding any other provision of law, for purposes of this section each financial transaction is a separate violation.
‹ Prev All Maryland sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.