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Ch. 522
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2000 LAWS OF MARYLAND
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(B) NOTWITHSTANDING ANY OTHER PROVISION OF THIS SUBTITLE, THE
DIRECTOR MAY NOT AWARD FROM THE GUARANTY FUND:
(1) MORE THAN $30,000 TO ONE CLAIMANT FOR ACTS OR OMISSIONS OF
ONE REGISTRANT;
(2) MORE THAN $300,000 TO ALL CLAIMANTS FOR ACTS OR OMISSIONS OF
ONE REGISTRANT, UNLESS, AFTER THE DIRECTOR HAS PAID OUT $300,000 ON
ACCOUNT OF ACTS OR OMISSIONS OF THE REGISTRANT, THE REGISTRANT
REIMBURSES $300,000 TO THE GUARANTY FUND;
(3) AN AMOUNT FOR ATTORNEY FEES, CONSEQUENTIAL DAMAGES,
COURT COSTS, INTEREST, PERSONAL INJURY DAMAGES, OR PUNITIVE DAMAGES; OR
(4) AN AMOUNT AS A RESULT OF A DEFAULT JUDGMENT IN COURT.
(C) NOTWITHSTANDING ANY OTHER PROVISION OF THIS SUBTITLE, A CLAIM
AGAINST THE GUARANTY FUND MAY NOT BE MADE BY;
(1) A SPOUSE OR OTHER IMMEDIATE RELATIVE OF THE REGISTRANT
THAT IS THE SUBJECT OF THE CLAIM;
(2) AN EMPLOYEE, OFFICER, OR PARTNER OF THE REGISTRANT THAT IS
THE SUBJECT OF THE CLAIM; OR
(3) AN IMMEDIATE RELATIVE OF AN EMPLOYEE, OFFICER, OR PARTNER
OF THE REGISTRANT THAT IS THE SUBJECT OF THE CLAIM.
(D) A CLAIMANT MAY PLACE A CLAIM AGAINST THE GUARANTY FUND WITHIN
1 YEAR ONLY AFTER:
(1) THE CLAIMANT:
(I) OBTAINED A FINAL JUDGMENT OF A COURT OF COMPETENT
JURISDICTION;
(II) RECEIVED AN ARBITRATION AWARD;
(III) ENTERED INTO A SETTLEMENT OR CONCILIATION
AGREEMENT; OR
(IV) FAILED TO ACHIEVE SERVICE OF PROCESS ON THE
REGISTRANT AFTER REASONABLE EFFORT; OR
(2) THE ISSUANCE OF A FINAL ADMINISTRATIVE ORDER.
4.5-506.
TO INITIATE A RECOVERY FROM THE GUARANTY FUND, A CLAIMANT SHALL
SUBMIT TO THE DIRECTOR, UNDER OATH, A CLAIM THAT INCLUDES;
(1) THE AMOUNT CLAIMED BASED ON ACTUAL LOSSES;
(2) EVIDENCE OF COMPLIANCE WITH § 4.5-505(D) OF THIS SUBTITLE;
AND
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- 2796 -
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