WILLIAM DONALD SCHAEFER, Governor Ch. 563

A REAL ESTATE BROKER SHALL INCLUDE IN EACH SALES CONTRACT
THAT IS PROVIDED BY THE REAL ESTATE BROKER A WRITTEN NOTICE TO
THE PURCHASER THAT THE PURCHASER IS PROTECTED BY THE GUARANTY
FUND IN AN AMOUNT NOT EXCEEDING $25,000.

SUBCOMMITTEE COMMENT: This section is new language derived
without substantive change from the second sentence of
former Art. 56, § 217A(a)(l).

Defined terms: "Guaranty Fund" § 4-101
"Real estate broker" § 4-101

4-406. PROCEDURES FOR FILING CLAIMS.

(A)  FILING A CLAIM.

A CLAIM AGAINST THE GUARANTY FUND SHALL BE FILED IN
ACCORDANCE WITH THIS SECTION.

(B)  FORM OF COMPLAINT.
A COMPLAINT SHALL:

(1)  BE IN WRITING;

(2)  BE MADE UNDER OATH;

(3)  STATE THE AMOUNT OF LOSS CLAIMED;

(4)  STATE THE FACTS ON WHICH THE CLAIM IS BASED; AND

(5)  BE ACCOMPANIED BY ANY DOCUMENTATION OR OTHER
EVIDENCE THAT SUPPORTS THE CLAIM.

SUBCOMMITTEE COMMENT: This section is new language derived
without substantive change from former Art. 56, §
217A(d)(l) and (2)(i) and the first sentence of
(a)(3).

In subsection (b)(2) of this section, the reference to
a complaint being "made under oath" is substituted for
the former reference to a "verified" complaint, to
conform to terminology used throughout this article.
See § 1-102 of this article.

Defined term: "Guaranty Fund" § 4-101

4-407. ACTION ON CLAIM BY COMMISSION.
(A) MANNER OF PROCEEDING.

- 3845 -