VETOES

(I) IS UNABLE TO MEET ITS OBLIGATIONS UNDER A NEW
HOME WARRANTY; OR

(II) IS ADMINISTERED IN A MANNER THAT DENIES
OWNERS THE WARRANTY COVERAGE REQUIRED UNDER THIS SUBTITLE.

(2) EXCEPT FOR NEW HOMES THAT WERE ENROLLED
REGISTERED IN THE NEW HOME WARRANTY SECURITY PLAN PRIOR TO
THE REVOCATION OR SUSPENSION AND FOR WHICH A PURCHASE OR
CONSTRUCTION CONTRACT HAS BEEN EXECUTED, DURING THE TIME
PERIOD THAT APPROVAL FOR A NEW HOME WARRANTY SECURITY PLAN
IS REVOKED OR SUSPENDED BY THE SECRETARY, THE NEW HOME
WARRANTY SECURITY PLAN MAY NOT PROVIDE WARRANTY COVERAGE
FOR ANY NEW HOMES BUILT IN MARYLAND.

(C) (1) UNLESS THE SECRETARY DETERMINES THAT A SHORTER
NOTICE PERIOD IS NEEDED TO PROTECT THE INTERESTS OF THE
BUILDERS AND OWNERS, THE SECRETARY SHALL GIVE A NEW HOME
WARRANTY SECURITY PLAN AT LEAST 90 DAYS NOTICE THAT THE
SECRETARY'S APPROVAL OF THE PLAN IS BEING REVOICED OR
SUSPENDED; AND

(2) A NEW HOME WARRANTY SECURITY PLAN SHALL GIVE TO
ITS PARTICIPATING BUILDERS AT LEAST 60 DAYS' NOTICE OF THE PLAN'S
REVOCATION OR SUSPENSION, OR SUCH SHORTER TIME AS SPECIFIED
BY THE SECRETARY IF THE PLAN RECEIVES LESS THAN 90 DAYS' NOTICE.

10-607.

(A) IF IN ACCORDANCE WITH § 10 604(B)(3) 10-604(B)(2) OF THIS
TITLE AN OWNER DOES NOT WISH TO REQUIRE THAT THE NEW HOME BE
COVERED BY A NEW HOME WARRANTY, THE OWNER SHALL MAKE AN
AFFIRMATIVE WAIVER OF THE COVERAGE AT THE TIME OF THE
PURCHASE OR CONSTRUCTION CONTRACT.

(B) BEFORE AN OWNER MAKES A WAIVER UNDER THIS SECTION,
THE OWNER MUST BE INFORMED IN WRITING BY THE BUILDER OF THE
COST, NATURE, AND EXTENT OF WARRANTY COVERAGE THAT WOULD
BE PROVIDED UNDER THE BUILDER'S NEW HOME WARRANTY SECURITY
PLAN IF NOT WAIVED BY THE OWNER.

(C) AN OWNER WHO HAS MADE AN AFFIRMATIVE WAIVER UNDER
THIS SECTION MAY RESCIND THE WAIVER AND REQUEST A NEW HOME
WARRANTY IN ACCORDANCE WITH THE PROVISIONS OF THIS SUBTITLE
WITHIN 3 WORKING DAYS FROM THE DATE OF THE CONTRACT BY
PROVIDING THE BUILDER WITH WRITTEN NOTICE OF THE OWNER'S
RESCISSION OF THE WAIVER.

(D) THE WAIVER UNDER THIS SECTION SHALL BE MADE ON A
FORM DETERMINED BY THE SECRETARY AND SHALL CONTAIN A

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