Maryland Code, REAL PROPERTY 11A-127
Terms Used In Maryland Code, REAL PROPERTY 11A-127
- Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
- Contract: A legal written agreement that becomes binding when signed.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
- Person: includes an individual, receiver, trustee, guardian, personal representative, fiduciary, representative of any kind, corporation, partnership, business trust, statutory trust, limited liability company, firm, association, or other nongovernmental entity. See
- state: means :
(1) a state, possession, territory, or commonwealth of the United States; or
(2) the District of Columbia. See
(b) The project instrument of any time-share project in existence before January 1, 1985, may be amended in accordance with this title. If an amendment grants to any person any rights, powers, or privileges permitted by this title, all correlative obligations, liabilities, and restrictions shall also apply to that person.
(c) (1) The requirements of §§ 11A-102, 11A-103, 11A-104, 11A-105, 11A-106, 11A-107, 11A-108, 11A-109, 11A-110, 11A-111, 11A-115, and 11A-117 of this title apply only to projects located in this State.
(2) The requirements of §§ 11A-112, 11A-113, 11A-114, 11A-116, 11A-118, 11A-119, 11A-120, 11A-121, 11A-122, 11A-124, and 11A-125 of this title apply to any developer required to register under this title with the Commission, whether or not the project is located in this State.
(d) Except for the developer of the project or an employee, officer, agent, or assign of the developer of the project where the time-shares are located, a person engaged in the business of selling time-shares owned by that person is required to comply with §§ 11A-115, 11A-116, 11A-119, 11A-121, 11A-122, 11A-124, and 11A-125 of this title, but is not required to comply with § 11A-112 of this title.