(a) The funds in the escrow account shall be used only for the purposes of remedying the hazardous condition.
(b) The amount of the escrow account shall be the estimated cost of correcting the hazardous condition or $5,000 whichever is greater.
(c) The escrow account is to be established by the related institution at an authorized financial institution selected by the related institution.
(d) Current operating funds may not be used to establish the escrow account.
Structure Maryland Statutes
Title 19 - Health Care Facilities
Subtitle 3 - Hospitals and Related Institutions
Part VIII - Intermediate Sanction
Section 19-362 - Intermediate Sanctions; Plan of Correction
Section 19-363 - Escrow Account
Section 19-365 - Release of Escrowed Funds
Section 19-366 - Failure to Establish Escrow Account or Correct Hazardous Condition