HARRY HUGHES, Governor

2791

(e) Any purchaser may at any time (1) within 15 days
following receipt of all of the information required under
subsection (b);] EXECUTION OF THE CONTRACT OF SALE; and (2)
within 5 days following receipt of the information required 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.

11-127.

(a) A contract for the initial sale of a unit to a member
of the public may not be entered into until the PUBLIC OFFERING
STATEMENT FOR THE PROPOSED 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. TO APPLY FOR REGISTRATION, A [A] developer OR INITIAL

SELLER OF A CONDOMINIUM UNIT TO A MEMBER OF THE PUBLIC 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 OR INITIAL SELLER OF A CONDOMINIUM
UNIT TO A MEMBER OF THE PUBLIC promptly shall file amendments to
report any material change in any document or information
contained in the application.

(e) The Secretary of State shall be responsible for the
administration of this section.

(1) The Secretary may adopt, amend, and repeal

regulations necessary to [carry out] IMPLEMENT, ENFORCE, AND
INTERPRET the requirements of [the provisions of] this section.

(2) The Secretary may prescribe terms and procedures
for submitting applications.

(C) THIS SECTION APPLIES TO THE SALE OF ANY UNIT OFFERED
FOR SALE IN MARYLAND WITHOUT REGARD TO THE LOCATION OF THE
CONDOMINIUM.

11-130.

(b)(1) For purposes of this section; "consumer" means an
actual or prospective purchaser, lessee, assignee, UNIT OWNER or
recipient of a condominium unit.

11-131.