HARRY HUGHES, Governor

2975

(E)  SUBJECT TO THE LIMITATIONS OF THIS SECTION, THE
ASSOCIATION SHALL BE SUBJECT TO TITLE 5, SUBTITLE 2 OF THE
CORPORATIONS AND ASSOCIATIONS ARTICLE.

(F)  A DIRECTOR OF AN ASSOCIATION MAY BE REMOVED FROM OFFICE
IN ACCORDANCE WITH THE ARTICLES OF INCORPORATION OF THE
ASSOCIATION. IF THE ARTICLES OF INCORPORATION DO NOT PROVIDE FOR
REMOVAL, A DIRECTOR MAY BE REMOVED AT A MEETING CALLED FOR THAT
PURPOSE, WITH OR WITHOUT CAUSE, BY SUCH VOTE AS WOULD SUFFICE FOR
HIS ELECTION. THE COSTS FOR REPRODUCTION AND MAILING OF THE
PROXIES USED TO REMOVE ANY DIRECTOR SHALL BE REIMBURSED TO THE
MEMBER INCURRING SUCH COSTS IF THE MEMBER REQUESTS SUCH
REIMBURSEMENT AND THE DIRECTOR IS IN FACT REMOVED.

11A-110.

(A)  TIME-SHARE EXPENSES MUST BE ASSESSED AGAINST ALL
TIME-SHARES IN ACCORDANCE WITH THE TIME-SHARE INSTRUMENT. ANY
PAST DUE ASSESSMENT SHALL BEAR INTEREST AT THE RATE ESTABLISHED
BY THE MANAGING ENTITY OR TIME-SHARE INSTRUMENT NOT TO EXCEED 18
PERCENT PER YEAR.

(B)  TO THE EXTENT REQUIRED BY THE TIME-SHARE INSTRUMENT,
ANY TIME-SHARE EXPENSE BENEFITING FEWER THAN ALL OF THE
TIME-SHARE OWNERS MUST BE ASSESSED EXCLUSIVELY AGAINST THE
TIME-SHARE OWNERS BENEFITED.

(C)  ASSESSMENTS TO PAY A JUDGMENT AGAINST THE ASSOCIATION
MAY BE MADE ONLY AGAINST THE TIME-SHARE ESTATE OWNERS OF RECORD
IN THE TIME-SHARE ESTATE PROJECT AT THE TIME THE JUDGEMENT
JUDGMENT WAS ENTERED, IN PROPORTION TO THEIR TIME-SHARE EXPENSE
LIABILITIES.

(D)  IF ANY TIME-SHARE EXPENSE IS CAUSED BY THE MISCONDUCT
OF ANY TIME-SHARE OWNER, THE ASSOCIATION MAY ASSESS THAT EXPENSE
EXCLUSIVELY AGAINST THAT OWNER.

(E) (1) IF THE APPLICABLE TIME-SHARE INSTRUMENT SO
PROVIDES, A PERSON WHO HAS A DUTY TO MAKE ASSESSMENTS FOR
TIME-SHARE EXPENSES HAS A LIEN ON A TIME-SHARE FOR ANY ASSESSMENT
LEVIED AGAINST THAT TIME-SHARE OR FINES IMPOSED AGAINST ITS OWNER
FROM THE TIME THE ASSESSMENT OR FINE BECOMES DUE, EFFECTIVE UPON
RECORDING. AS TO A TIME-SHARE ESTATE THE LIEN MAY BE ENFORCED
AND FORECLOSED IN THE SAME MANNER AS A FORECLOSURE OF A MORTGAGE
ON REAL ESTATE CONTAINING A POWER OF SALE OR AN ASSENT TO DECREE.
AS TO A TIME-SHARE LICENSE, THE PERSON WHO HAS THE DUTY TO MAKE
ASSESSMENTS SHALL HAVE THE RIGHTS OF A SECURED PARTY UNDER
SECTION 9-504 OF THE COMMERCIAL LAW ARTICLE TO SELL, LEASE, OR
DISPOSE OF THE TIME-SHARE LICENSE. UNLESS THE TIME-SHARE
INSTRUMENT OTHERWISE PROVIDES, FEES, CHARGES, LATE CHARGES,
FINES, AND INTEREST CHARGED ARE ENFORCEABLE AS ASSESSMENTS UNDER
THIS SECTION. IF AN ASSESSMENT IS PAYABLE IN INSTALLMENTS, THE
FULL AMOUNT OF THE ASSESSMENT IS A LIEN FROM THE TIME THE FIRST

INSTALLMENT BECOMES DUE PROVIDED THAT WITHIN 15 DAYS OF AN