Source: https://govt.westlaw.com/mdc/Document/NFC348950942011DFA2B793343177393F?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Default)
Timestamp: 2017-11-24 22:16:48
Document Index: 418320569

Matched Legal Cases: ['§ 11', '§ 11', '§ 11', '§ 11', '§ 11', '§ 11']

§ 11B-111.6. Purchase of fidelity insurance by homeowners association
MD Code, Real Property, § 11B-111.6
Fidelity insurance includes fidelity bond
(b) This section does not apply to a homeowners association:
(1) That has four or fewer lot owners; and
(2) For which 3 months' worth of gross annual homeowners association fees is less than $2,500.
(c)(1) The board of directors or other governing body of a homeowners association shall purchase fidelity insurance not later than the time of the first conveyance of a lot to a person other than the declarant and shall keep fidelity insurance in place for each year thereafter.
Copy of policy or bond included in books and records of association
(d) A copy of the fidelity insurance policy or fidelity bond shall be included in the books and records kept and made available by or on behalf of the homeowners association under § 11B-112 of this title.
(i) 3 months' worth of gross annual homeowners association fees and the total amount held in all investment accounts at the time the fidelity insurance is issued; or
(f) If a lot owner believes that the board of directors or other governing body of a homeowners association has failed to comply with the requirements of this section, the aggrieved lot owner may submit the dispute to the Division of Consumer Protection of the Office of the Attorney General under § 11B-115 of this title.
MD Code, Real Property, § 11B-111.6, MD REAL PROP § 11B-111.6