Md. Code, Business Regulation § 8-411
This is the official text of Md. Code, Business Regulation § 8-411, part of Maryland’s Code, Business Regulation — governs general business licensing and regulation.
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§8–411.
Official statutory text
(a) Except as provided in subsection (b) of this section, if the Commission pays a claim against the Fund based on an act or omission of a contractor, the Commission may suspend the contractor license until the contractor reimburses the Fund in full for:
(1) the amount paid from the Fund; and
(2) interest on that amount at an annual rate of at least 10%, as set by the Commission.
(b) The Commission may not suspend the contractor license if the Commission finds that the contractor or management personnel of the contractor:
(1) did not know of the wrongful conduct; or
(2) could not prevent the violation.
(c) Reimbursement of the Fund in full by a contractor, by itself, does not nullify or modify the effect of a disciplinary proceeding against a licensee.
(1) the amount paid from the Fund; and
(2) interest on that amount at an annual rate of at least 10%, as set by the Commission.
(b) The Commission may not suspend the contractor license if the Commission finds that the contractor or management personnel of the contractor:
(1) did not know of the wrongful conduct; or
(2) could not prevent the violation.
(c) Reimbursement of the Fund in full by a contractor, by itself, does not nullify or modify the effect of a disciplinary proceeding against a licensee.
Status: in_force · Read it on the official government site
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