§ 11-127. Registration requirements
West's Annotated Code of MarylandReal PropertyEffective: April 13, 2010
Effective: April 13, 2010
MD Code, Real Property, § 11-127
§ 11-127. Registration requirements
(a) A contract for the initial sale of a unit to a member of the public may not be entered into until the public offering statement for the proposed condominium regime has been registered with the Secretary of State and until 10 days after all amendments then applicable to the public offering statement have been filed with the Secretary of State under subsection (d) of this section.
(b)(1) An application for registration shall consist of the public offering statement described in § 11-126 of this title. A developer shall file the number of copies required by the Secretary of State. The Secretary of State shall notify the governing body of the county and/or municipality in which the condominium is located of the filing of the application. An application shall be accompanied by a fee of not less than $100, in an amount equal to $5 per unit.
(c)(1) The Secretary of State shall acknowledge receipt of an application for registration within 5 business days after receiving it. The Secretary shall determine whether the application satisfies the disclosure requirements of § 11-126 of this title within 45 days after receipt.
(2) If the Secretary of State determines that the application complies with § 11-126 of this title, the Secretary shall issue promptly an order registering the condominium. Otherwise, unless the developer has consented in writing to a delay not to exceed 30 days, the Secretary shall issue promptly an order rejecting registration. The order shall include the specific reasons for the rejection. The Secretary's failure to issue any order within 45 days of receipt or within the time period agreed upon shall be deemed an approval of the condominium. Rejection of an application for registration by the Secretary of State may not act as a bar to reapplication for registration. An application amended to comply with the stated reasons for rejection and accompanied by an additional fee as provided in subsection (b) of this section shall be approved by the Secretary of State upon his determination that the amended application satisfies the requirements of this section.
(d)(1)(i) A developer shall promptly file with the Secretary of State copies of any changes in the documents or information contained in the public offering statement which are necessary to make the documents or information current.
(3) A developer shall notify the Secretary of State in writing when all of the units in the condominium have been conveyed to unit owners other than the developer, and the developer either cannot add additional units to the condominium or has determined that no additional units will be added to the condominium.
(4) If the developer notifies the Secretary of State that all of the units in the condominium have been conveyed to unit owners other than the developer, and that the developer either cannot add additional units to the condominium, or has determined that no additional units will be added to the condominium, the Secretary of State shall issue an order terminating the registration of the condominium.
(e) The Secretary of State shall be responsible for the administration of this section.
Added by Acts 1981, c. 246, § 1, eff. July 1, 1981. Amended by Acts 1982, c. 836, § 3; Acts 1984, c. 525; Acts 1984, c. 570; Acts 1985, c. 511; Acts 1986, c. 360; Acts 1989, c. 5, § 1; Acts 1997, c. 5, § 1, eff. Oct. 1, 1997; Acts 1999, c. 66, § 1, eff. Oct. 1, 1999; Acts 2010, c. 72, § 1, eff. April 13, 2010.
MD Code, Real Property, § 11-127, MD REAL PROP § 11-127
Current through all legislation from the 2017 Regular Session of the General Assembly
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