Ch. 563

LAWS OF MARYLAND

IF, AT THE TIME A PAYMENT IS DUE, THE MONEY IN THE GUARANTY
FUND IS INSUFFICIENT TO SATISFY FULLY THE ORDER FOR PAYMENT, THE
COMMISSION:

(1)  IMMEDIATELY SHALL PAY TO THE CLAIMANT THE AMOUNT
THAT IS AVAILABLE IN THE GUARANTY FUND; AND

(2)  WHEN SUFFICIENT FUNDS ARE AVAILABLE IN THE
GUARANTY FUND, SHALL PAY THE CLAIMANT:

(I)  THE BALANCE DUE ON THE ORDER; PLUS

(II)  INTEREST CALCULATED ON THAT BALANCE AT AN
ANNUAL RATE OF 10%.

SUBCOMMITTEE COMMENT: This section is new language derived
without substantive change from the first sentence of
former Art. 56, § 217A(a)(l), as that sentence related
to the claim limit, the second sentence of (4), and
item (ii) of the second sentence of (5), and the third
sentence of (d)(2)(iii), (3)(i) and (ii), (4), and
(5).

In subsection (c)(1) of this section, new language is
added to clarify when an order of the Commission
becomes final under Title 10, Subtitle 2 of the State
Government Article.

In subsection (c)(2) of this section, the reference to
a judicial stay is added for clarity and to conform to
the practice of the Commission.

In subsection (d) of this section, the word "awarded"
is added for clarity.

In subsection (e) of this section, new language is
added to clarify that if there is some money in the
Guaranty Fund, but not enough to pay the full amount
ordered, the Commission shall make a partial payment.

Defined terms: "Commission" § 4-101
"Guaranty Fund" § 4-101

4-411. REIMBURSEMENT OF THE GUARANTY FUND.

(A) IN GENERAL.

AFTER PAYMENT OF A CLAIM BY THE GUARANTY FUND, A LICENSEE
WHO THE COMMISSION FINDS RESPONSIBLE FOR THE ACT OR OMISSION THAT
GAVE RISE TO THE CLAIM SHALL REIMBURSE THE GUARANTY FUND IN FULL
FOR:

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