1990

LAWS OF MARYLAND

Ch. 544

Article 56 - Licenses

Section 217A(a)

Annotated Code of Maryland

(1972 Replacement Volume and 1979 Supplement)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That section(s) of the Annotated Code of Maryland
be repealed, amended, or enacted to read as follows:

Article 56 - Licenses

217A.

(a) The Maryland Real Estate Commission shall
establish and maintain a real estate guaranty fund from
which, subject to the provisions of this section, any person
aggrieved by any action of a real estate broker or real
estate salesman, duly licensed in this State, arising out of
a real estate transaction WHICH OCCURS WITHIN INVOLVING REAL
ESTATE LOCATED IN THIS STATE and by reason of the theft of
money or property, or money or property unlawfully obtained
from any person by forgery or by reason of any fraud,
misrepresentation or deceit by or on the part of any such
real estate broker or real estate salesman or the unlicensed
employee of any such real estate broker, or by reason of a
violation of this subtitle by such broker, salesman, or
employee may recover compensation in the amount of his
actual loss as proven before the Commission.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1980.

Approved May 20, 1980.

CHAPTER 545

(Senate Bill 233)

AN ACT concerning

Corporations - Articles of Revival

FOR the purpose of deleting the requirement that articles of
revival must specify the principal office of the
corporation as being in the same county where it was
located at the time the charter was forfeited.

BY repealing and reenacting, with amendments,

Article - Corporations and Associations