HARRY HUGHES, Governor

4615

[(14)] (13) A description of any provision in
the declaration or bylaws limiting the duration of developer
control or requiring the phasing-in of unit owner
participation, or a statement that there is no such
provision; and

[(15)] (14) Any other information required by
regulation duly adopted and issued by the Secretary of

State.

(c)  [The public offering statement may not be used for
any promotional purpose before registration and afterwards
only if it is used in its entirety.] A person may not
advertise or represent that the Secretary of State has
approved or recommended the condominium, the [disclosure]
PUBLIC OFFERING statement, or any of the documents contained
in the application for registration.

(d) (1) Following execution of a contract of sale by a
purchaser, the vendor may not amend any of the material
required to be furnished by subsection (a) without the
approval of the purchaser if the amendment would affect
materially the rights of the purchaser[; provided that
approval].

(2)  APPROVAL is not required if the amendment is
required by any governmental authority or public utility, OR
IF THE AMENDMENT IS MADE AS A RESULT OF ACTIONS BEYOND THE
CONTROL OF THE VENDOR OR IN THE ORDINARY COURSE OF AFFAIRS
OF THE COUNCIL OF UNIT OWNERS.

(3)  A copy of any amendments shall be delivered
promptly to any purchaser and to the Secretary of State.

(e)  Any purchaser may at any time (1) within 15 days
following receipt of all of the information required
[pursuant to] UNDER subsection (b); and (2) within 5 days
following receipt of the information required [pursuant to]
UNDER subsection (d), rescind in writing the contract of
sale without stating any reason and without any liability on
his part, and he shall be entitled to the return of any
deposits made on account of the contract.

(f)  Any [seller] VENDOR who, in disclosing the
information required [pursuant to] UNDER subsections (a) and
(b), makes any untrue statement of a material fact, or omits
to state a material fact necessary in order to make the
statements made, in the light of circumstances under which
they were made, not misleading, shall be liable to any
person purchasing a unit from him. However, an action may
not be maintained to enforce any liability created under
this section unless brought within 1 year after the facts
constituting the cause of action are or should have been
discovered.