|
|
|
|
|
|
|
|
|
|
|
|
|
MARVIN MANDEL, Governor 707
ON THE CLAIM, THE ADMINISTRATION MAY;
(1) ORDER THAT ANY LOSS OR DAMAGE SUSTAINED
BY THE CLAIMANT BE PAID OUT OF THE ASSURANCE FUND,
SUBJECT TO THE LIMITATIONS SET FORTH IN THIS SECTION; OR
(2) ORDER THAT THE CLAIM BE DISMISSED AND
DENY PAYMENT OF THE CLAIM.
(C) JUDICIAL REVIEW OF DETERMINATION.
(1) IN THIS SUBSECTION, "CIRCUIT COURT" MEANS
THE BALTIMORE CITY COURT OR THE CIRCUIT COURT FOR ANY
OTHER COUNTY.
(2) ANY AGGRIEVED PARTY TO A HEARING UNDER
THIS SECTION MAY APPEAL FROM THE DECISION OF THE
ADMINISTRATION AS FOLLOWS:
(I) TO THE CIRCUIT COURT FOR THE COUNTY IN
WHICH THE PARTY RESIDES OR HAS HIS PRINCIPAL PLACE OF
BUSINESS; OR
(II) IF THE PARTY DOES NOT RESIDE OR HAVE A
PRINCIPAL PLACE OF BUSINESS IN THIS STATE, TO THE CIRCUIT
COURT FOR ANNE ARUNDEL COUNTY.
(3) THE CIRCUIT COURT TO WHICH AN APPEAL IS
MADE UNDER THIS SECTION HAS JURISDICTION TO EXAMINE THE
FACTS OF THE CASE AND TO DETERMINE IF THE CLAIMANT IS
ENTITLED UNDER THIS SECTION TO RECOVER FOR ANY LOSS OR
DAMAGE. THE ADMINISTRATION SHALL PAY THE AMOUNT OF ANY
JUDGMENT RECOVERED AGAINST THE ASSURANCE FUND UP TO THE
AMOUNT OF THE SECURITY INTEREST TO WHICH THE CLAIM
RELATES.
(D) WHEN FUND EXEMPT FROM LIABILITY.
THE ASSURANCE FUND IS NOT LIABLE UNDER ANY
CIRCUMSTANCES FOR:
(1) ANY LOSS OR DAMAGE THAT EXCEEDS THE
AMOUNT OF THE SECURITY INTEREST TO WHICH THE CLAIM
RELATES; OR
(2) ANY LOSS OR DAMAGE THAT RESULTS FROM:
(I) THE CLAIMANT'S BREACH OF ANY TRUST,
WHETHER EXPRESSED, IMPLIED, OR CONSTRUCTIVE;
(II) THE IMPROPER USE OF THE SEAL OF ANY
CORPORATION TO DEAL WITH THE PROPERTY OR INTEREST
INVOLVED OR TO EXECUTE OR TAKE THE BENEFIT OF THE
INSTRUMENT RECORDED; OR
(III) THE RECORDING OF AN INSTRUMENT EXECUTED
BY A PERSON UNDER LEGAL DISABILITY, UNLESS THE FACT OF
THE DISABILITY IS DISCLOSED ON THE INSTRUMENT.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
 |
