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§ 4.5-712. Suspension of home builder registration

West's Annotated Code of MarylandBusiness RegulationEffective: October 1, 2008

West's Annotated Code of Maryland
Business Regulation (Refs & Annos)
Title 4.5. Home Builder Registration (Refs & Annos)
Subtitle 7. Home Builder Guaranty Fund (Refs & Annos)
Effective: October 1, 2008
MD Code, Business Regulation, § 4.5-712
§ 4.5-712. Suspension of home builder registration
(a) If the Division pays a claim against the Guaranty Fund based on an act or omission of a registrant, the Division may suspend the home builder registration until the registrant reimburses the Fund in full for:
(1) the amount paid from the Guaranty Fund; and
(2) interest on that amount at a rate determined by the Division so as not to exceed the legal rate of interest on a judgment in place at the time a claim is approved.
(b) Reimbursement of the Guaranty Fund in full by a registrant, by itself, does not nullify or modify the effect of a disciplinary proceeding against a registrant.
(c) If a home builder holds a license or registration in Montgomery County, the county may suspend the license as provided in this section.

Credits

Added by Acts 2008, c. 480, § 1, eff. Oct. 1, 2008; Acts 2008, c. 481, § 1, eff. Oct. 1, 2008.
MD Code, Business Regulation, § 4.5-712, MD BUS REG § 4.5-712
Current through legislation effective through May 9, 2024, from the 2024 Regular Session of the General Assembly. Some statute sections may be more current, see credits for details.
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