HARRY HUGHES, Governor

1747

Approved May 12, 1981.

CHAPTER 371

(House Bill 507)

AN ACT concerning

Real Estate Guaranty Fund

FOR the purpose of requiring certain State agencies and
officials to promptly collect money owed to the real
estate guaranty fund.

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 217A(f)

Annotated Code of Maryland

(1979 Replacement Volume and 1980 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be repealed, amended, or enacted to read as follows: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.

(f) (1) When said Commission has caused to be paid
from said guaranty fund any sum to the aggrieved person, the
Commission shall be subrogated to all of the rights of the
aggrieved person up to the amount paid, and the aggrieved
person shall assign all of his right, title and interest in
the claim up to such amount paid to said Commission, and any
amount and interest recovered by said Commission on the
claim shall be deposited to said guaranty fund.

(2) THE COMMISSION, THE ATTORNEY GENERAL, AND
OTHER STATE AGENCIES OR OFFICIALS HAVING AUTHORITY TO
COLLECT MONEY OWED TO THE STATE SHALL ACT PROMPTLY AND USE
THEIR BEST EFFORTS TO ASSUME ASSURE THAT MONEY OWED TO THE
FUND IS COLLECTED AND REPAID EXPEDITIOUSLY.

SECTION 2. AND BE IT FURTHER ENACTED, That this Act
shall take effect July 1, 1981.

Approved May 12, 1981.