Maryland Statutes
Subtitle 7 - Home Builder Guaranty Fund
Section 4.5-712 - Suspension of Registration Pending Reimbursement of Fund

(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.

Structure Maryland Statutes