WILLIAM DONALD SCHAEFER, Governor Ch. 805

(d)  Any tender specified in this section may be made at any
time before entry of judgment.

(e)  Every cause of action under this statute survives the
death of any person who might have been a plaintiff or defendant.

(f)  (1) A person may not sue under [this section]
SUBSECTIONS (A)(1) AND (2) OF THIS SECTION after the earlier to
occur of [three] 3 years after the contract of sale or purchase
or the time specified in paragraph (2) of this subsection.

(2)  An action may not be maintained:

(i) To enforce any liability created under

subsections (a)(l)(i) or (a)(2)(i) of this section, unless

brought within one year after the violation on which it is based;
or

(ii) To enforce any liability created under
subsections (a)(l)(ii) or (a)(2)(ii) of this section, unless
brought within one year after the discovery of the untrue
statement or omission, or after the discovery should have been
made by the exercise of reasonable diligence.

(3)  A PERSON MAY NOT SUE UNDER SUBSECTION (A)(3) OF
THIS SECTION MORE THAN 3 YEARS AFTER THE CONTRACT OF SALE OR THE
RENDERING OF INVESTMENT ADVICE, OR THE EXPIRATION OF 2 YEARS
AFTER THE DISCOVERY OF THE FACTS CONSTITUTING THE VIOLATION,
WHICHEVER FIRST OCCURS.

[(3)] (4) A person may not sue under this section:

(i) If the buyer received a written offer,
before suit and at a time when he owned the security, to refund
the consideration paid together with interest at [6 percent per
year] THE RATE PROVIDED FOR IN § 11-107(A) OF THE COURTS AND
JUDICIAL PROCEEDINGS ARTICLE, AS AMENDED, from the date of
payment, less the amount of any income received on the security,
and he failed to accept the offer within 30 days of its receipt;

(ii) If the buyer received the offer before
suit and at a time when he did not own the security, unless he
rejected the offer in writing within 30 days of its receipt; or

(iii) If the seller received a written offer
from the buyer, before suit, to return the security, together
with the amount of any income received on the security, less
interest at [6 percent per year] THE RATE PROVIDED FOR IN §
11-107(A) OF THE COURTS AND JUDICIAL PROCEEDINGS ARTICLE, AS
AMENDED, from the date of payment, and he failed to accept the
offer within 30 days of its receipt.

(g)  A person may not base any suit on any contract if he:

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