§ 11A-128. Maintenance of records and closed meetings
West's Annotated Code of MarylandReal Property
MD Code, Real Property, § 11A-128
§ 11A-128. Maintenance of records and closed meetings
(a) The association, or developer during the developer control period, shall keep books and records in accordance with generally accepted accounting principles.
(b)(1) On the request of the owners of at least 5 percent of the time-shares, the association, or developer during the developer control period, shall cause an audit of the books and records to be made by an independent certified public accountant at common expense.
(c) Every record of the association kept by the association, or by the developer during the developer control period, shall be available at some place designated by the association or developer within the county where the time-share is located for inspection and copying by any time-share owner, the owner's mortgagee, or their duly authorized agents or attorneys, during normal business hours, and after reasonable notice.
(d) A meeting of the board of directors or governing body of the association may be held in closed session only for the following purposes:
(e) If a meeting is held in closed session under subsection (d) of this section:
Credits
Added by Acts 1985, c. 720, § 3, eff. July 1, 1985.
MD Code, Real Property, § 11A-128, MD REAL PROP § 11A-128
Current through legislation effective through April 9, 2023, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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