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WILLIAM DONALD SCHAEFER, Governor Ch. 665
BY repealing and reenacting, with amendments,
Article - Real Property
Section 11A-104(a)
Annotated Code of Maryland
(1988 Replacement Volume and 1988 Supplement)
SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF
MARYLAND, That the Laws of Maryland read as follows:
Article - Real Property
11A-104.
(a) (1) Time-shares may be created in any unit in existence
before January 1, 1985 unless prohibited by a project instrument.
If time-shares are not prohibited by the project instrument, the
owners of at least 34 percent of the units in the project may
sign and record a document among the land records of the county
where the project is located, stating an intent to limit
time-shares in the project, and referring to this section.
Thereafter, no person or other entity may become a developer with
respect to more than 1 unit in the project, but this limitation
will not apply to units of which the developer was owner of
record prior to the recording of the aforementioned document.
(2) (I) IN THIS PARAGRAPH, "RECORDED COVENANTS AND
RESTRICTIONS" HAS THE MEANING STATED IN § 11B-101 OF THIS
ARTICLE.
(II) THE OWNERS OF PROPERTY IN A RESIDENTIAL
COMMUNITY GOVERNED BY PRIVATE RESTRICTIONS A PROJECT INSTRUMENT
RECORDED COVENANTS AND RESTRICTIONS MAY PROHIBIT TIME-SHARES ON
ANY PROPERTY SUBJECT TO THE PRIVATE RESTRICTIONS PROJECT
INSTRUMENT RECORDED COVENANTS AND RESTRICTIONS BY AMENDING THE
PRIVATE RESTRICTIONS PROJECT INSTRUMENT RECORDED COVENANTS AND
RESTRICTIONS WITH A MAJORITY VOTE OF THE OWNERS SUBJECT TO THE
RESTRICTIONS BY A VOTE OF THE OWNERS IN ACCORDANCE WITH THE
MAJORITY REQUIREMENTS OF THE PROJECT INSTRUMENT, BYLAWS, OR RULES
OF THE PROJECT RECORDED COVENANTS AND RESTRICTIONS:
(III) THE PROVISIONS OF SUBPARAGRAPH (II) OF
THIS PARAGRAPH DO NOT APPLY TO AN EXISTING TIME-SHARE UNIT IN A
PROJECT.----------------------------------------------------------
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall
take effect July 1, 1989.
Approved May 25, 1989.
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