Md. Code, Business Regulation § 4.5-712
This is the official text of Md. Code, Business Regulation § 4.5-712, part of Maryland’s Code, Business Regulation — governs general business licensing and regulation.
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§4.
Official statutory text
§4.5–712.
(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.
(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.
Status: in_force · Read it on the official government site
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