Md. Code, Business Regulation § 8-409
This is the official text of Md. Code, Business Regulation § 8-409, part of Maryland’s Code, Business Regulation — governs general business licensing and regulation.
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§8–409.
Official statutory text
(a) The Commission may order payment of a claim against the Fund only if:
(1) the decision or order of the Commission is final in accordance with Title 10, Subtitle 2 of the State Government Article and all rights of appeal are exhausted; or
(2) the claimant provides the Commission with a certified copy of a final judgment of a court of competent jurisdiction or a final award in arbitration, with all rights of appeal exhausted, in which the court or arbitrator:
(i) expressly has found on the merits that the claimant is entitled to recover under § 8–405(a) of this subtitle; and
(ii) has found the value of the actual loss.
(b) (1) Except as otherwise provided in this subsection, the Commission shall pay approved claims in the order submitted.
(2) If approved claims submitted to the Commission against a contractor exceed $250,000 less the amount of unreimbursed claim payments previously made for the contractor, the Commission may pay the approved claims proportionately so that each claimant receives the same percentage payment of the claims.
(3) After the Fund is reimbursed, the Commission shall pay unsatisfied approved claims.
(c) If there is not enough money in the Fund to pay an approved claim wholly or partly, the Commission shall pay the unpaid claim:
(1) when enough money is deposited in the Fund; and
(2) in the order that each claim originally was filed with a court of competent jurisdiction or submitted to the Commission.
(1) the decision or order of the Commission is final in accordance with Title 10, Subtitle 2 of the State Government Article and all rights of appeal are exhausted; or
(2) the claimant provides the Commission with a certified copy of a final judgment of a court of competent jurisdiction or a final award in arbitration, with all rights of appeal exhausted, in which the court or arbitrator:
(i) expressly has found on the merits that the claimant is entitled to recover under § 8–405(a) of this subtitle; and
(ii) has found the value of the actual loss.
(b) (1) Except as otherwise provided in this subsection, the Commission shall pay approved claims in the order submitted.
(2) If approved claims submitted to the Commission against a contractor exceed $250,000 less the amount of unreimbursed claim payments previously made for the contractor, the Commission may pay the approved claims proportionately so that each claimant receives the same percentage payment of the claims.
(3) After the Fund is reimbursed, the Commission shall pay unsatisfied approved claims.
(c) If there is not enough money in the Fund to pay an approved claim wholly or partly, the Commission shall pay the unpaid claim:
(1) when enough money is deposited in the Fund; and
(2) in the order that each claim originally was filed with a court of competent jurisdiction or submitted to the Commission.
Status: in_force · Read it on the official government site
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