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§ 4.5-708. Joinder of claim with disciplinary proceedings

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, § 4.5-708
§ 4.5-708. Joinder of claim with disciplinary proceedings
(a)(1) The Division may join a proceeding on a claim against the Guaranty Fund with a disciplinary proceeding against a registrant under this subtitle if the disciplinary hearing is based on the same facts alleged in the claim.
(2) In a consolidated proceeding the claimant is a party, and may participate in the hearing to the extent necessary to establish the claim.
(b)(1) Notwithstanding § 4.5-702(2) of this subtitle, a claimant may not concurrently submit a claim to recover from the Guaranty Fund and bring an action in a court of competent jurisdiction against a registrant based on the same facts alleged in the claim.
(2) If, after filing a claim, the claimant brings an action in a court of competent jurisdiction based on the same facts alleged in the pending claim, the Division shall stay its proceedings on the claim until there is a final judgment and all rights to appeal are exhausted.
(3) To the extent that a final judgment or final award in arbitration is based on the same factual and legal issues alleged in a pending claim, the Division shall:
(i) approve the claim against the Guaranty Fund, if the judgment or award is decided in favor of the claimant and the registrant has failed to pay the judgment or award; or
(ii) dismiss the claim against the Guaranty Fund, if the judgment or award is decided in favor of the registrant.

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, § 4.5-708, MD BUS REG § 4.5-708
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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