2984

LAWS OF MARYLAND

Ch. 579

SUBTENANTS UNDER THIS SECTION AND BE HAND DELIVERED TO THE UNIT
OR MAILED TO THE TENANT AND SUBTENANT AT THE ADDRESS OF THE UNIT
OR ANY OTHER MAILING ADDRESS PROVIDED BY THE TENANT OR SUBTENANT.

(2) NO TENANT OR SUBTENANT MAY BE REQUIRED BY THE
DEVELOPER TO VACATE UPON LESS THAN 120 DAYS' NOTICE, EXCEPT BY
REASON OF NONPAYMENT OF RENT, WASTE, NORMAL EXPIRATION OF THE
TERM OF THE LEASE, OR CONDUCT THAT DISTURBS OTHER TENANTS'
PEACEFUL ENJOYMENT OF THE PREMISES, AND THE TERMS OF THE TENANCY
MAY NOT BE ALTERED DURING THAT PERIOD WITHOUT THE CONSENT OF THE
TENANT OR SUBTENANT. FAILURE TO GIVE NOTICE AS REQUIRED BY THIS
SUBSECTION IS A DEFENSE TO AN ACTION FOR POSSESSION.

11A-114.

(A)  A TIME-SHARE PURCHASER SHALL HAVE THE RIGHT TO CANCEL
THE SALES CONTRACT UNTIL MIDNIGHT OF THE TENTH CALENDAR DAY
FOLLOWING WHICHEVER OCCURS LATEST:

(1)  THE CONTRACT DATE;

(2)  THE DAY ON WHICH THE TIME-SHARE PURCHASER
RECEIVED THE LAST OF ALL DOCUMENTS REQUIRED TO BE PROVIDED AS
PART OF THE PUBLIC OFFERING STATEMENT; OR

(3)  THE TIME-SHARE UNIT MEETS ALL BUILDING
REQUIREMENTS AND IS READY FOR OCCUPANCY. HOWEVER, IF THE
DEVELOPER OBTAINS A PAYMENT AND PERFORMANCE BOND FROM A SURETY TO
INSURE COMPLETION OF THE PROJECT AS REPRESENTED IN THE PUBLIC
OFFERING STATEMENT AND CONTRACT OF SALE, AND FILES THE BOND WITH
THE COMMISSION, THIS ITEM DOES NOT APPLY.

(B)  THE RIGHT OF CANCELLATION CANNOT BE WAIVED BY THE
PURCHASER OR BY ANY OTHER PERSON. NO CLOSING SHALL OCCUR UNTIL
THE PURCHASER'S CANCELLATION PERIOD HAS EXPIRED. ANY ATTEMPT TO
OBTAIN A WAIVER OF THE PURCHASER'S CANCELLATION RIGHTS, OR A
CLOSING PRIOR TO THE EXPIRATION OF THE CANCELLATION PERIOD, SHALL
BE UNLAWFUL AND SUCH CLOSING SHALL BE VOIDABLE AT THE OPTION OF
THE PURCHASER FOR A PERIOD OF 1 YEAR AFTER THE EXPIRATION OF THE
CANCELLATION PERIOD. NOTHING IN THIS SECTION SHALL PRECLUDE THE
EXECUTION OF DOCUMENTS IN ADVANCE OF CLOSING FOR DELIVERY AFTER
EXPIRATION OF THE CANCELLATION PERIOD.

(C)  ANY NOTICE OF CANCELLATION GIVEN BY MAIL OR TELEGRAPHIC
COMMUNICATION SHALL BE CONSIDERED GIVEN ON THE DATE POSTMARKED,
IF MAILED, OR WHEN TRANSMITTED FROM THE PLACE OF ORIGIN, IF
TELEGRAPHED, SO LONG AS THE NOTICE IS ACTUALLY RECEIVED BY THE
DEVELOPER. IF NOTICE IS GIVEN BY MEANS OF A WRITING TRANSMITTED
OTHER THAN BY MAIL OR TELEGRAPH, IT SHALL BE CONSIDERED GIVEN AT
THE TIME OF RECEIPT AT THE PRINCIPAL PLACE OF BUSINESS OF THE
DEVELOPER.

(D)  IN THE EVENT OF A TIMELY CANCELLATION, OR IN THE EVENT
THE TIME-SHARE PLAN IS ONE IN WHICH TIME-SHARE LICENSES ARE SOLD
AND AT ANY TIME THE TIME-SHARE PROJECT IS NO LONGER AVAILABLE TO