4616

LAWS OF MARYLAND

Ch. 836

(g) The rights of [purchasers] A PURCHASER under this
section may not be waived in the contract of sale and any
attempted waiver is void. However, if any purchaser proceeds
to closing, his right under this section to rescind is
terminated.

(h) [The requirements of this section do] THIS SECTION
DOES not apply to the sale of any unit which is to be
occupied and used for nonresidential purposes.

(i) [The requirements of this section shall apply]
THIS SECTION APPLIES to the sale of any unit offered for
sale in the State without regard to the location of the
condominium.

11-127.

(a)  [All properties which are subjected to a
condominium regime for residential use pursuant to the
provisions of this title shall be registered with the
Secretary of State. A unit in a condominium regime may not
be sold or offered for sale] A CONTRACT FOR THE INITIAL SALE
OF A UNIT TO A MEMBER OF THE PUBLIC MAY NOT BE ENTERED INTO
until the condominium regime has been registered with the
Secretary of State AND UNTIL 10 DAYS AFTER ALL AMENDMENTS
THEN APPLICABLE TO THE PUBLIC OFFERING STATEMENT HAVE BEEN
FILED WITH THE SECRETARY OF STATE UNDER SUBSECTION (D).

(b) (1) An application for registration shall consist
of the public offering statement described in § 11-126 of
this title. A developer shall file the number of copies
required by the Secretary of State. The Secretary of State
shall notify the governing body of the county and/or
municipality in which the condominium is located of the
filing of the application. An application shall be
accompanied by a fee of not less than $100, in an amount
equal to $5 per unit.

(2) A developer promptly shall file amendments
to report any [actual or expected] material change in any
document or information contained in the application.

(c) (1) The Secretary of State shall acknowledge
receipt of an application for registration within 5 business
days after receiving it. The Secretary shall determine
whether the application satisfies the disclosure
requirements of § 11-126 of this title within 45 days after
receipt.

(2) If the Secretary of State [makes a favorable
determination] DETERMINES THAT THE APPLICATION COMPLIES WITH
§ 11-126 OF THIS TITLE, the Secretary shall issue promptly
an order registering the condominium. Otherwise, unless the
developer has consented in writing to a delay not to exceed
30 days, the Secretary shall issue promptly an order