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PARRIS N. GLENDENING, Governor Ch. 522
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2. THAT SHALL PREVAIL IN THE PERFORMANCE OF THE
CONTRACT AND ANY ARBITRATION OR ADJUDICATION OF A CLAIM ARISING FROM
THE CONTRACT; AND
(IV) A PROVISION DETAILING THE PURCHASER'S RIGHT TO RECEIVE
A CONSUMER INFORMATION PAMPHLET AS PROVIDED UNDER THE HOME BUILDER
REGISTRATION ACT.
(3) THE PERFORMANCE STANDARDS OR GUIDELINES DESCRIBED IN
SUBSECTION (J)(2) PARAGRAPH (2) OF THIS SECTION SUBSECTION SHALL BE:
(I) THE PERFORMANCE STANDARDS OR GUIDELINES ADOPTED AT
THE TIME OF THE CONTRACT BY THE. NATIONAL ASSOCIATION OF HOME BUILDERS:
(II) ANY PERFORMANCE STANDARDS' OR GUIDELINES ADOPTED BY
THE HOME BUILDER AND INCORPORATED INTO THE CONTRACT THAT ARE EQUAL TO
OR MORE STRINGENT THAN THE PERFORMANCE STANDARDS ADOPTED AT THE TIME
OF THE CONTRACT BY THE NATIONAL ASSOCIATION OF HOME BUILDERS: OR
(III) ANY PERFORMANCE STANDARDS OR GUIDELINES ADOPTED AT
THE TIME OF THE CONTRACT BY A COUNTY OR MUNICIPAL CORPORATION THAT ARE
EQUAL TO OR MORE STRINGENT THAN THE PERFORMANCE STANDARDS OR
GUIDELINES ADOPTED AT THE TIME OF THE CONTRACT BY THE NATIONAL
ASSOCIATION OF HOME BUILDERS.
(4) THE INFORMATION REQUIRED BY PARAGRAPH (2) OF THIS
SUBSECTION SHALL BE PRINTED IN CONSPICUOUS TYPE.
SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall be
construed only prospectively and may not be applied or interpreted to have any effect
on or application to any act or omission of a home builder arising before the. effective
date of this Act; that it shall apply only to contracts entered into on. or after January
1, 2001; and that home builders shall be registered beginning on or after January 1,
2001.
SECTION 3. AND BE IT FURTHER ENACTED, That Title 1.5 of the Business
Regulation Article as enacted by this Act shall supersede any existing laws of any
county or municipal corporation in the State related to the registration or licensure of
home builders with the exception of a county's laws which exempts home builders
from the requirements of that title under § 4.5-708 of the Business Regulation
Article.
SECTION 4. 3. AND BE IT FURTHER ENACTED, That the Consumer
Protection Division of the Office of the Attorney General shall study the feasibility of
a new home builder guaranty fund. The Consumer Protection Division shall report its
findings and recommendations to the Senate Finance Committee and the House
Economic Matters Committee, in accordance with § 2-1246 of the State Government
Article, on or before October 1, 2002 2003.
SECTION 5. 4. AND BE IF IT FURTHER ENACTED, That on or before
November 1, 2001 and annually thereafter, the Consumer Protection Division of the
Office of the Attorney General shall submit an annual report of its activities
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- 2805 -
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