WILLIAM DONALD SCHAEFER, Governor                        Ch. 5

of this subsection. Such a developer or its affiliate shall
comply with §§ 11-136 and 11-137 OF THIS TITLE.

DRAFTER'S NOTE:

Error: Stylistic errors in § ll-142(b) through (f) of
the Real Property Article.

Occurred: Errors in subsections (b) through (e) and
the introductory language of subsection (f) occurred
in Ch. 246, Acts of 1981. Error in subsection (f)(3)
occurred in Ch. 836, Acts of 1982.

11A-110.

(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
owner's failure to pay an installment, that person who has a duty
to make assessments notifies the owner that, if the owner fails
to pay any [installation] INSTALLMENT within 15 days of the
notice, full payment of the remaining annual assessment will then
be due and shall constitute a lien on the unit as provided in
this section.

DRAFTER'S NOTE:

Error: Incorrect word usage in § 11A-ll0(e)(1) of the
Real Property Article.

Occurred: Ch. 579, Acts of 1984.

11A-121.

(f)  (1) Subject to the provisions of paragraph (2) of this
[section] SUBSECTION, the Commission may order summarily the
suspension of the registration of a developer if the developer:

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