Maryland Real Property Section 11-116

      (a)      The council of unit owners shall keep books and records in accordance with good accounting practices on a consistent basis.

      (b)      On the request of the unit owners of at least 5 percent of the units, the council of unit owners shall cause an audit of the books and records to be made by an independent certified public accountant, provided an audit shall be made not more than once in any consecutive 12-month period. The cost of the audit shall be a common expense.

      (c)      (1)      Except as provided in paragraph (2) of this subsection, all books and records, including insurance policies, kept by the council of unit owners shall be maintained in Maryland or within 50 miles of its borders and shall be available at some place designated by the council of unit owners within the county where the condominium is located for examination and copying by any unit owner, his mortgagee, and their respective duly authorized agents or attorneys, during normal business hours, and after reasonable notice.

            (2)      Books and records kept by or on behalf of a council of unit owners may be withheld from public inspection to the extent that they concern:

                  (i)      Personnel records;

                  (ii)      An individual's medical records;

                  (iii)      An individual's financial records;

                  (iv)      Records relating to business transactions that are currently in negotiation;

                  (v)      The written advice of legal counsel; or

                  (vi)      Minutes of a closed meeting of the board of directors or other governing body of the council of unit owners.

      (d)      The council of unit owners may impose a reasonable charge upon a person desiring to review or copy the books and records.