(a) Each person that constructs new homes for sale to the public shall maintain general liability insurance for at least $100,000.
(b) If a home builder’s registration has been revoked and the home builder applies for a new registration, the Unit shall, in its discretion, approve the application on the applicant’s fulfillment of specified terms and conditions, including the posting of a bond for the benefit of subcontractors, suppliers, and consumers, and the payment of any judgments or awards due to any subcontractors, suppliers, and consumers, for a period of 4 years from the date of the approval of registration, after which the licensing bond shall expire and shall no longer be required to be maintained by the registered home builder.
Structure Maryland Statutes
Title 4.5 - Home Builder Registration
Section 4.5-301 - Registration Required
Section 4.5-302 - Liability Insurance
Section 4.5-303 - Registration -- Application; Fee
Section 4.5-304 - Issuance of Home Builder Registration Number; Authority Conferred
Section 4.5-305 - Renewal of Registration Number or Certificate
Section 4.5-306 - Change of Information
Section 4.5-307 - Display of Registration Number or Certificate