PARRIS N. GLENDENING, Governor

Ch. 2

WHO DOES NOT CAUSE OR CONTRIBUTE TO NEW CONTAMINATION OR EXACERBATE
EXISTING CONTAMINATION AS PROVIDED IN §§ 7-505 AND 7-514 OF THIS TITLE.

(3) A LENDER TAKING ACTION TO PROTECT OR PRESERVE A
MORTGAGE OR DEED OF TRUST OR SECURITY INTEREST IN A PROPERTY LOCATED
ON A SITE, WHO CAUSES OR CONTRIBUTES TO A RELEASE OF A HAZARDOUS
SUBSTANCE SHALL BE LIABLE SOLELY FOR COSTS INCURRED AS A RESULT OF THE
RELEASE WHICH THE LENDER CAUSED OR TO WHICH THE LENDER CONTRIBUTED
UNLESS THE LENDER WAS A RESPONSIBLE PERSON PRIOR TO TAKING THE ACTION.

[(3)](4) (i) Paragraph (2)(i) of this subsection does not affect the
liability of a previous owner or previous operator of a site containing a hazardous
substance if the previous owner or previous operator is a responsible person under
paragraph (1)(ii) of this subsection.

(ii) Notwithstanding paragraph (2)(i) of this subsection, a person shall
be treated as a responsible person if the person:

1.       Obtained actual knowledge of the release or threatened
release of a hazardous substance at a site when the person owned the real property; and

2.       Transferred ownership of the property after June 30, 1991
without disclosing this knowledge to the transferee.

(iii) Nothing in paragraph (2)(i) of this subsection shall affect the
liability under this subtitle of a person who, by any act or omission, caused or contributed
to the release or threatened release of a hazardous substance at a site which is the subject
of the action relating to the site if at the time of the act or omission the person knew or
had reason to know that the act or omission would cause or contribute to the release or
threatened release of a hazardous substance.

[(4)] (5) Notwithstanding paragraph (2)(ii) of this subsection, a person shall
be treated as a responsible person if the person:

(i) Knew or had reason to know of the release or threatened release
of a hazardous substance at the site; and

(ii) Transferred ownership of the property after June 30, 1991 without
disclosing this knowledge to the transferee.

[(5)] (6) (i) For purposes of paragraph (2)(iii), (iv), (v), and (vi) of this
subsection, "management" means directing or controlling operations, production or
treatment of a hazardous substance, storage or disposal of a hazardous substance, or
remediation of a hazardous substance release.

(ii) "Management" does not include rendering advice on financial
matters, rendering financial assistance, or actions taken to protect or secure the site or
property located on the site if the advice, assistance, or actions do not involve the
treatment, storage, or disposal of a hazardous substance or remediation of a hazardous
substance release.

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