§ 4.5-712
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/md/business-regulation/4-5-712·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
§4.5–712.
(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.