HARRY HUGHES, Governor

2965

Section 11A-101 through 11A-128, inclusive, to be under the
new title "Title 11A. Maryland Real Estate
Time-Sharing Act"

Annotated Code of Maryland

(1981 Replacement Volume and 1983 Supplement)

BY repealing and reenacting, with amendments,

Article 56 - Licenses
Section 212(d-2) and (d-3)
Annotated Code of Maryland
(1983 Replacement Volume)

BY repealing

Article 56 - Licenses
Section 217B and 224D
Annotated Code of Maryland
(1983 Replacement Volume)

SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:

Article - Real Property

TITLE 11A. MARYLAND REAL ESTATE TIME-SHARING ACT

11A-101.

(A)   IN THIS TITLE THE FOLLOWING TERMS HAVE THE MEANINGS
INDICATED, UNLESS THE CONTEXT REQUIRES A DIFFERENT MEANING.

(B)   "ASSOCIATION" MEANS A NONSTOCK CORPORATION CONSISTING
ONLY OF TIME-SHARE ESTATE OWNERS FORMED ACCORDING TO TITLE 5,
SUBTITLE 2 OF THE CORPORATIONS AND ASSOCIATIONS ARTICLE.

(C)   "COMMISSION" MEANS THE MARYLAND REAL ESTATE COMMISSION.

(D)   "COMMON ELEMENTS" MEANS ALL OF A TIME-SHARE PROJECT
EXCEPT FOR THE TIME-SHARE UNITS LOCATED IN THE PROJECT.

(E)   "COMMON EXPENSES" MEANS THE COSTS OF MANAGEMENT AND
OPERATION OF THE TIME-SHARE PROJECT, MAINTENANCE OF, AND
IMPROVEMENTS TO THE COMMON ELEMENTS, MAINTENANCE OF THE UNITS,
AND REPAIR AND REPLACEMENT OF PERSONALTY LOCATED IN THE PROJECT
OWNED BY THE ASSOCIATION.

(F)   "CONVERSION BUILDING" MEANS A BUILDING THAT AT ANY TIME
BEFORE THE DISPOSITION OF ANY TIME-SHARE WAS OCCUPIED BY ANY
PERSON OTHER THAN TIME SHARE PURCHASERS OR PERSONS WHO OCCUPIED
THE BUILDING WITH THE CONSENT OF A TIME SHARE PURCHASER FOR
RESIDENTIAL PURPOSES.