Section 9-202 - Liability for retention or use of moneys held in trust under § 9-201 of this subtitle.
§ 9-202. Liability for retention or use of moneys held in trust under § 9-201 of this subtitle.
Any officer, director, or managing agent of any contractor or subcontractor, who knowingly retains or uses the moneys held in trust under § 9-201 of this subtitle, or any part thereof, for any purpose other than to pay those subcontractors for whom the moneys are held in trust, shall be personally liable to any person damaged by the action.
[1987, ch. 345; 1995, ch. 436.]