WILLIAM DONALD SCHAEFER, Governor                    Ch. 309

AN ACT concerning

CHAPTER 309
(Senate Bill 932)

Housing Resource Fund

FOR the purpose of changing the name of the Rental Housing
Resource Corporation to be the Housing Resource Corporation;
expanding the scope of the Program to include certain
for-sale housing; altering the calculation for the maximum
amount of the Fund that may be used for administrative
expenses; altering the required language for notices in
certain contracts of sale; and generally relating to the
Housing Resource Fund.

BY repealing and reenacting, with amendments,

Article 56 - Licenses

Section 227A and 227A-1

Annotated Code of Maryland

(1983 Replacement Volume and 1986 Supplement)

BY repealing and reenacting, with amendments,

Article - Financial Institutions

Section 13-601, 13-602, 13-603, 13-605, 13-606, 13-609,
13-610, and 13-613 to be under the amended subtitle
"Subtitle 6. Housing Resource Corporation"

Annotated Code of Maryland

(1986 Replacement Volume)

BY repealing and reenacting, with amendments,

Article - Real Property

Section 10-301 and 10-301.1

Annotated Code of Maryland

(1981 Replacement Volume and 1986 Supplement)

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

Article 56 - Licenses

227A.

(a) In any case in which a licensee hereunder is entrusted
with, or receives and accepts, or otherwise holds, deposit moneys
or other trust moneys, of whatever kind or nature, or instruments

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