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2020 Maryland Statutes
Corporations and Associations
Title 5 - Special Types of Corporations
Subtitle 6B - Maryland Cooperative Housing Corporation Act
Section 5-6B-11 - Deposits Made on Sale of Cooperative Interests Held in Escrow
Universal Citation: MD. Corporations and Associations Code Ann. § 5-6B-11 (2020)
Deposits taken in connection with the sale by a developer of cooperative interests with respect to units intended for residential use shall be deposited or held in an escrow account in the same manner as provided in § 10-301 of the Real Property Article in the case of sales of new, uncompleted single family units, unless a corporate surety bond is obtained and maintained as provided in § 10-301 of the Real Property Article.
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